The joint venture with Genesis will exclusively manage the distribution of Villeroy & Boch tableware products in India.
The JV plans to open three Villeroy & Boch stores nationwide in 2013, and then to ramp up over the next five years to a total of 16. The first store will be located in Palladium Mall in Mumbai and will be opened shortly during the next weeks, the company said.
More From This Section
"To realize these plans, investments in the two-digit million ranges (in Rs crores) will be made. The high-quality design of the Villeroy & Boch shops is based on the latest generation of premium flagship stores in Europe, generously sized and thus certain to live up to the high expectations of consumers," a statement from both the companies said.
Villeroy & Boch has been present in the Indian market: since 2009 the bath and wellness division is represented with a sale steam based in Mumbai and 20 showrooms nationwide, and the hotel and restaurant division provides their services for professionals in the field of hospitality since 2002.
"Our aim is to develop the Indian market qualitatively with the new partner. Genesis is the most successful luxury operator in India, already cooperates with many premium and luxury brands and so has the absolute expertise and market know-how to successfully distribute our products,” says Nicolas Luc Villeroy, drector and tableware business unit manager of Villeroy & Boch AG.