Many luxury brands have abandoned the U.S. and European markets and have slowly but surely been heading into and expanding their business dealings in Asia and the Middle East. China and India are the new number one destinations; populations are large and the appetite for luxury goods is still growing.
Watch brands like Raymond Weil, Tissot and Omega Watches have already arrived; opening new boutiques, hiring famous local Indian and Asian faces to promote their brands and seeing how this move is going to keep them in business.
In 2006, Gucci India made a contract with Murjani Retail to have its good sold throughout the country. But 2006 was a different time. Currently, Luxury Goods Retail sells Gucci products in India under a franchise agreement, and now, in 2009, when the agreement expired, Gucci made a move to petition and won the right to “enter the Indian retail market through single brand stores with the government allowing it to pick up a majority stake in its Indian franchisee Luxury Goods Retail Pvt Ltd.”
In India, Gucci has two stores; one in Delhi and the other in Mumbai but which sold a limited range of products. Last year the announcement was made that not only would the brand geographically expand, so would its product offering. In addition to opening a location in Bangalore, everything from Gucci men’s and women’s collections of ready-to-wear, handbags, shoes, Gucci watches and other accessories will be for sale.
Gucci is one of the most recognized words, not to mention brands, in the world. The epitome of Italian luxury and the largest-selling Italian brand in the world, with the infamous GG logo (which stands for Guccio Gucci, the founder), Gucci anything is desired by many. Gucci watches are one the brand’s many products and are for those that foremost consider themselves fashionistas, will not be disappointed with a Gucci watch. With over twenty-four different collections of men’s and women’s watches, there exists the perfect Gucci timepiece for everybody.
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