<
Luxury
tableware brand Villeroy & Boch AG has announced a joint venture
with Genesis Luxury Fashion, effective from June 2013. The joint venture
with Genesis will exclusively manage the distribution of Villeroy &
Boch tableware products in India. The partnership ensures the
establishment of a distribution network through the opening of Villeroy
& Boch's own exclusive retail stores in India.
“Our aim is to develop the Indian market qualitatively with the new partner. Genesis is the most successful luxury operator in India, already cooperates with many premium and luxury brands and so has the absolute expertise and market know-how to successfully distribute our products,” says Nicolas Luc Villeroy, Director and Tableware Business Unit Manager of Villeroy & Boch AG. "The Indian market for luxury products has been growing continuously in recent years. This new partnership thus comes at exactly the right time, enabling us to extend our local presence”, he added.
“Our aim is to develop the Indian market qualitatively with the new partner. Genesis is the most successful luxury operator in India, already cooperates with many premium and luxury brands and so has the absolute expertise and market know-how to successfully distribute our products,” says Nicolas Luc Villeroy, Director and Tableware Business Unit Manager of Villeroy & Boch AG. "The Indian market for luxury products has been growing continuously in recent years. This new partnership thus comes at exactly the right time, enabling us to extend our local presence”, he added.
The Villeroy & Boch stores will be opened in luxury shopping malls across India, where Genesis is already present with other high-end brands from their portfolio such as Burberry, Bottega Veneta, Tumi and Canali. "In this way we ensure we have the right market environment for our presence at the point of sale. After all, Genesis specialises in the most upscale price segment of the local trade market,” Villeroy explains.
For Genesis, the cooperation involves a strategic portfolio extension. In the past the organisation has focused on fashion manufacturers, but with Villeroy & Boch its offerings are being extended to include the "Home Interior" segment.
“The partnership with Villeroy & Boch is the perfect extension of our existing luxury and premium fashion and beauty business into the next segment of indulgence – ‘Home Interiors’. V&B is a heritage brand that brings in its excellent tradition of craftsmanship to India, where we have a history of appreciating the finer things in life. We are very excited about this partnership” says Sanjay Kapoor, Managing Director, Genesis Luxury Fashion Pvt. Ltd.
Amit Gadkari will be the Chief Operating Officer (COO) of the Joint Venture and supervise the overall operations of the Tableware business locally for Villeroy & Boch. “We believe in our success in India. The business plan for the coming years envisions an ambitious rollout. Stores will soon be opened in a number of cities like Mumbai, Delhi and Bengaluru, to name but a few,” Gadkari says.
Initially three Villeroy & Boch stores would be launched nationwide this year, which would then be increased over the next five years to a total of 16. The first store will be located in the elegant Palladium Mall in Mumbai and will be opened shortly during the next weeks.
SOURCE:http://www.indiaretailing.com/news.aspx?topic=1&Id=7056