Louis Vuitton Moet Hennessy''s Fendi to open six stores in India
20 August 2007
New Delhi: Fur and leather brand Fendi, which is part of the world''s largest luxury stalls, Louis Vuitton Moet Hennessy (LVMH) Group, has announced that it plans to set up six stores within a span of five years in India.
The brand has 13 outlets in West Asia and India, and sees a large and growing potential in the Indian market. The company views the Indian customer as progressive, and well travelled and accordingly, it plans its USP to be its collection, coupled with the ability to personalise and custom-make products to customer''s preference.
Fendi stores will initially roll out from five star hotels, followed by specialised luxury malls. The third phase will see an expanded presence at high street locations across the country.
The brand entered India in November 2006, with a 3,000 sq. ft. boutique at the Taj Mahal hotel in Mumbai. It now plans to have a presence across all major cities in the country within the next five years, with stores in Mumbai, Delhi, Bangalore, Hyderabad, Chennai and Kolkata.
The stores in Delhi and Bangalore plan to open by the first quarter of 2008. The stores will showcase the entire Fendi range including, handbags, apparels, footwear, eyewear and watches.
Though LVMH has other brands such as Louis Vuitton and Christian Dior as part of its stable, some of which have been brought to India, the company does not see one brand cannibalising another, as it claims that the DNA of each brand is different, each targeting a different target audience. Fendi, meanwhile is more of a collector''s item, where it''s "not about changing fashion, but permanency."