French luxury brand, Hermes International, for its fragrance business, has enetered into a licensing and distribution arrangement with the Kolkata-based Beauty Concepts India. The company, which entered India in 2007 through a 51:49 joint venture with Khanna Specialty Retail, claims that its investments in India will be in line with its growth expectations. “India is a complicated market. The luxury market is evolving in the right direction and going forward. We will be investing substantially to achieve sustained growth in India. The growth in the fragrance business has given us an opportunity to relook at various business models. We are present at 12 point of sales in India now and there are tie-ups with various retailers to sell our fragrances,” says Jean-Philippe Collin, Export Regional Director – Middle East, Hermes International. Hermes currently has a stand-alone store in Oberoi Hotel, New Delhi and is planning to add two more shop-in-shops.
Posted on : 8-9-2010
Source: www.thehindubusinessline.com
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