The Murjani group, headquartered in New York, is bringing in luxury and premium high street brands into India. Other than Tommy Hilfiger, its portfolio includes Gucci, Jimmy Choo, Bottega Veneta, Calvin Klein, French Connection and La Perla. VIJAY MURJANI, managing director of the Murjani group, was in New Delhi to launch French Connection and Gucci stores. He spoke to ARCHANA JAHAGIRDAR about the group's plans.
You have got several luxury brands into India. What is the size of the luxury market in the country?
I think it will take another year or so before we know how big the luxury segment is. You have to believe that there is a market. One parameter is whether people are living better or not and Indians do have a long tradition in luxury. From the moment luxury has been available, Indians have been buying it. In the end it is about sensing whether there is a market here for luxury.
How has been the experience of selling premium high street brands in India?
Tommy Hilfiger will continue to grow 50 per cent year on year. The premium segment is growing well. For FCUK we will open 10 points of sale. That will double the business that the brand does. For the Indian consumer what is important, no matter what brand it may be, is the brand experience. If you deliver well the consumer will be satisfied.
Do you see any resistance by the Indian consumer in accepting the fashion styles that these brands advocate?
The younger consumer is dressing the same way as any teenager anywhere else in the world. The South Delhi customer is a very educated consumer and, generally, this would not be his or her first interaction with these brands.
How do you go about identifying brands, both in the luxury as well as in the premium segment, to bring into India?
We feel that the brands that we bring in, need to have a fit. We are not collectors of brands. For instance, we wanted to work with Gucci. Once you work out the DNA of a brand it's easy. Our decision to get into luxury was natural. We have grown up around luxury.
India is a challenging market, so the brands had to be sympathetic to the issues here. We approached all the brands directly and we went through a detailed analysis.
How is the group structured to take care of both the premium and luxury brands business?
In the last 18 months we have built up a huge organisation. It's a very structured environment with almost 125 people who are based in the head office. A third of our total staff strength is involved in the luxury business.
