Armani Junior Signs Fashion Designer Suneet Varma as Their India Master Franchise.

Designer Suneet Varma believes in keeping pace with the changing times. So he has turned into an entrepreneur and is bringing Armani Junior, a subsidiary of international luxury fashion label Giorgio Armani, to India.

"I have bagged the Indian franchisee for Armani Junior. I wanted to do something in luxury but I was sure it had nothing to do with shoes and bags. Then I zeroed in for children's wear, as it is a niche segment and there is tremendous scope in this area," Varma stated.

"We had approached them in March, met in May and finalised the deal in July. I have already been to Italy to have a look at the stock we would be keeping at the India store," he added.

The Delhi-based designer has opened a private firm, Unique Eye Luxury Apparel Pvt Ltd, along with a few partners and has signed a three-store deal with the label.

Their first store will open in luxury mall DLF Emporio, Vasant Kunj in March next year.

For the designer, who has been in the industry for over two decades, the decision came naturally as he believes creativity lies not only in making good clothes, but in exploring business avenues as well.

"I have been in this business for 25 years and I have good knowledge about the retail space in the country. So we understand the mindset of people and the market condition. And it is a business which one has to understand from the core and fortunately, my experience in the industry gives me an edge over others," said Varma.

"The idea is to think a little bit ahead and be creative about your business. For me, creativity goes beyond making creative saris or dresses. Yes, there is different fun in this, but one has to be creative enough with the business ideas as well to grow in this field," he added.

One of the pioneers of the Indian fashion industry, Varma wants to ensure this project is equally creative like his designs. Hence the store would be more than just a regular kids' wear shop.

"We have got big space. We want to make it a concept store. So we have plans to have regular art appreciation, music appreciation classes for kids here. We are also planning to bring in theatre personalities to interact with the kids," he elaborated.

"So yes, I am quite excited," he signed off

Source: prokerala, Tue, Nov 29 2011

Tags:Suneet Varma, Armani Junior, Unique Eye Luxury Apparel Pvt Ltd, Children Franchise, Kids wear franchise, kids apparel franchise,


This Blog/Information/News Item/Press Release has been posted by Sparkleminds, A Franchise Consulting Company Based at India, Offering Complete Franchise Solutions Nationally and Internationally for more than a decade now.We help retail brands franchise and retail businesses expand to various geographies across the globe through our franchise development and franchise recruitment modules.If you are an entrepreneur seeking a international retail franchise we can help you evaluate and start a new franchise.Visit www.sparkleminds.com for more details on how you can either expand your existing business through franchising or start a new business.

Iconic US Jeweller Tiffany Could Enter India Thru Reena Wadhwa

Iconic US jeweller Tiffany & Co is in talks to enter India through a 51% joint venture with actress-turned-luxury entrepreneur Reena Wadhwa, who already has a joint venture with Italian luxury brand Gucci, a person familiar with the negotiations said. "The deal is on the table now and could be signed soon," the person said.

Reena Wadhwa, who is married to investment banker and Ambit Group CEO Ashok Wadhwa, will float a new venture to run Tiffany's business, the person said.

Wadhwa confirmed she has been in talks with Tiffany's, but said nothing has been finalised. Tiffany & Co Vice President, Emerging Markets, Laurent Cathala said: "We have been pursuing discussions with potential partners and will announce the details of a business structure in India when we have finalised our plans and have signed the appropriate agreements."

Started as a stationery and fancy goods store in New York in 1837, Tiffany's is today the world's second-largest luxury jewellery retailer behind Chinese jeweller Chow Tai Fook, operating around 230 stores world over.

During its long history - Tiffany's will complete 175 years in September - the jeweller helped shape American culture including creating a design for the Union Army that would become baseball team New York Yankees' "NY" logo.

The company is fighting falling sales in the US and most European countries. During the festival season, better sales in Asian countries helped Tiffany's post a 7% rise in worldwide sales.

The company's management recently identified India as one of the key markets for the future. "We view India as an attractive long-term growth opportunity for Tiffany's," said Cathala, who heads Tiffany's emerging markets business, which covers the Middle East, Gulf countries, Europe, Africa, Turkey and India, and is based in Dubai.

Tiffany's is hoping to capture a pie of the country's $5.8-billion luxury market, which is expected to grow more than 20% a year to $14.7 billion by 2015.

Cathala is leading Tiffany's negotiations with Wadhwa being held out of Dubai, said the unnamed person quoted earlier.

Wadhwa had converted her company Luxury Goods Retail Pvt Ltd into a joint venture with Gucci in 2009, with the Italian firm holding 51% share. Gucci ended a franchisee deal with the Murjanis to form the joint venture.

A number of luxury brands have set sights on India as the luxury market is growing more than 20% a year. With the number of high net worth individuals increasing and aspiration levels of the young consumer class rising, the potential is big.

India has three million affluent households, defined as those with more than $100,000, or more than 50 lakh, of investable surplus, according to a global affluence study by research firm TNS.

The Indian government had recently allowed 100% foreign direct investment in single brand retail, but with a rider that retailers having more than 51% FDI will have to source at least 30% of their products from Indian small and medium enterprises, or those firms having invested not more than $1 million, or over 5 crore, in plant and machinery.

Sniffing an opportunity, real estate developers are expected to add more than one million sq ft of exclusive space for luxury retail over the next two-three years across the country.

Tags: Tiffany franchise, ambit group, reena wadhwa, laurent cathala, chow tai fook, luxury goods retail pvt ltd, gucci, murjanis,


This Blog/Information/News Item/Press Release has been posted by Sparkleminds, A Franchise Consulting Company Based at India, Offering Complete Franchise Solutions Nationally and Internationally for more than a decade now.We help retail brands franchise and retail businesses expand to various geographies across the globe through our franchise development and franchise recruitment modules.If you are an entrepreneur seeking a international retail franchise we can help you evaluate and start a new franchise.Visit www.sparkleminds.com for more details on how you can either expand your existing business through franchising or start a new business.