Valentino is getting ready to take its first steps in India. The Italian label announced yesterday Thursday in a statement that it will open its first single-brand stores in this country by the end of summer 2022.
It is through a partnership with the Indian luxury conglomerate Reliance that Valentino will soon open its first single-brand stores in India. This group will lead the expansion of the brand in this country.
The luxury house, which has notably caused a sensation in Rome in early July for its haute-couture show, revealed that this flagship will be located in the Indian capital: New Delhi. “The first store should open in 2022 by the end of the summer, with the flagship store in Mumbai to follow in the coming months,” the press release goes on to say.
Although it already sells its high-end items in India through multi-brand stores, the New Delhi store will be the first to sell exclusively Valentino products. Customers will be offered women’s wear, men’s wear, accessories, and shoes.
With this opening, which will mark the group’s 213th store worldwide, and the next ones to follow throughout the year, Valentino CEO Jacopo Venturini said it was a “significant step” in the luxury group’s strategy: to expand globally to become a leading house in the global luxury landscape.
“This partnership will help make the brand more accessible to its Indian customers,” added Darshan Mehta, managing director of Reliance Industries Limited. India, which is still a minor market for luxury goods on a global scale, still offers great hope for the sector.
According to research firm Euromonitor, the Indian luxury goods market is expected to be one of the fastest growing in the industry, doubling in size to nearly $5 billion within five years.
Featured photo : © Valentino