Ex-cricketer and the man best known for getting luxury pen Mont Blanc into the country, Dilip Doshi, is making a fresh start after the bitter spat with the Swiss writing instrument and watch maker over the last two years.
Doshi, 67, regarded as India's best off-spinner, who is still fighting Mont Blanc in Swiss courts over termination of its contract with his firm Entrak, will now exclusively market and distribute German brands Greggio Silver and Kahla Porcelain in India.
Doshi, in a conversation with Business Standard, said he would look at more tie-ups, as he looks to put the past behind him. "We were shocked when Mont Blanc terminated the contract with Entrak early last year. Arbitration is on in the Swiss courts and the matter is sub judice. At some stage, we have to make a start. So here we are," he says. "We will set-up 10 stores for Greggio and Kahla in the next three years and could look at an e-commerce module as well for the two brands," he said.
Typically, the two German brands are priced at nothing less than Rs 1,000 a piece at the entry level, which is affordable luxury, going up right upto Rs 10 lakh a piece, which is super luxury.
According to estimates by industry bodies such as Assocham, the overall luxury market in India is around $10-15 billion (Rs 65,000-97,500 crore). This includes everything from luxury cars to yachts, homes etc. This market, say experts, is growing at the rate of around 20-25 per cent per annum and remains largely unaffected by slowdown issues that have bogged the consumer goods market in India.
Besides, the rising number of millionaires in India is fuelling the luxury market, holding promise for distributors such as Doshi, experts said.
According to the World Wealth Report 2015, India recorded the largest gains - for the APAC region and globally - for HNWI (high networth individuals) population (26.3 per cent) and wealth (28.2 per cent). In terms of ranking, India comes 11 th in the pecking order of countries with highest number of high networth individuals, whose number is 1.98 lakh now versus 1.56 lakh last year.
Doshi says he is looking at brand tie-ups in areas such as accessories, high-end electronic products, apparels, shoes, etc. Doshi declines to indicate whether writing instruments would be part of this list though. "We are in the process of stitching up a few deals. But we are clear that we would like to use our expertise and our reach to be able to help luxury brands get market access in India," says Doshi.
In Mont Blanc's case, for instance, Doshi was able to penetrate the HNI market in India using his network of boutique stores in five-star hotels in top cities, industry sources say. He is expected to use a similar strategy with some of the newer brands he gets on board now, persons in the know said.
