 "Torero Corporation launches Police leather products in India, eyes $10 mn business")
For the year 2017-18, the company is thinking of doubling this earning to $20 million.
"In four years, our target is to achieve atleast $50 million from sales of Police branded products", the company's Director and CEO, Yashovardhan Gupta said.
In this endeavor, it has alloted $1.1 million of investment to reach out to the masses in India, UK, France, Spain, Belgium and USA with the brand.
As per Gupta, Police, the brand owned by the De Rigo group since 1983, has earnings to the tune of Euro 400 million.
The company, which is paying a royalty to the Italian brand Police for manufacturing and distribution rights, is presently scouting for a retail partner to have atleast 75 point of sales in India and atleast 225 international point of sales and is prioritising Shoppers Stop as the retail partner in India.
Besides, it is also in talks with players like Amazon, Myntra and Jabong to sell the Police products online.
"Materials to make the product is being sourced from Spain as well as locally", he said.
In India, Police leather accessories have been priced 30-35 per cent less than the global prices.
"India is a price sensitive market and thus we opted the offer premium quality products and competitve price points", he reasoned.
Police will be directly competing with brands like Fossil, Hidesign, Tommy Hilfiger, Woodland and other apparel brands, which also has accessories' line.
The company also has plans to launch its own brand, Torero in the Indian market in 2016-17.
Last year, Torero Corporation, a leather products company, had also acquired international rights to make and sell Cross leather accessories. However, post the agreement with Police, the company is not looking for further tie-ups with international designer and street-wear brands.
