Italian fashion and lifestyle major Gianni Versace is planning to bring in its range of furniture in India to tap the fast-growing luxury market here.
According to a PTI report: At present, furniture is the only product category in Versace’s portfolio that is not available in India.
“We are looking (at launching the furniture range).. We have no reason why we shouldn’t,” Gabriella Saracino, Worldwide Licensing and Home Division Director, Gianni Versace SpA told PTI.” However, she did not share the timeline of the launch of the furniture range in India.
“We want to be 100 percent sure (before launching) that it is the right location and the right partner.” On being asked whether Versace would partner locals here for its furniture range, she told PTI, “In distribution, yes. But the production would be in Italy”.
Saracino further told PTI, “We do not want any compromise on our quality. Our furniture is made in Italy. If people want quality, they buy our products. Otherwise, there are several other options in the market”.
Versace’s furniture is made in Italy and exported to different markets.
The home division, which includes furniture, accounts for 10 per cent of Versace’s total turnover. Founded in 1978 in Milan, Gianni Versace SpA is one of the leading international fashion design houses. It designs, manufactures, distributes and retails fashion and lifestyle products, including haute couture, accessories, jewellery, watches, eyewear, fragrances and home furnishings.
Last week, Versace and realty firm Unity Group announced tie-up for developing the Delhi’s tallest building, comprising 160 branded luxury apartments, with an investment of about Rs 500 crore. This was Versace’s second real estate project here, the first was in Mumbai with ABIL group, Saracino added.
On being asked whether the group is looking at partners for luxury real estate projects, she told PTI, “At the moment, we want to concentrate of this (project).”