Lamborghini to enter India with accessories business
Popular Italian luxury brand Lamborghini, popular for its swanky sports car, plans to enter the Indian market with its range of multi-media accessories by launching the products in Kolkata, Ahmedabad,
September 23, 2009 | comments ( 0 ) |
Popular Italian luxury brand Lamborghini, popular for its swanky sports car, plans to enter the Indian market with its range of multi-media accessories by launching the products in Kolkata, Ahmedabad, Jaipur and Chandigarh by Diwali. Its products are already available in Delhi, Bangalore, Chennai and Mumbai and go by the brand name ‘Tonino Lamborghini’. The company is targeting Rs 100 crore through its retail operations. Distribution company MCC Group is bringing the brand into the country and the initial focus will mainly be on the multimedia accessories segment. The products under this brand include laptop bags, camera bags, mobile pouches and iPod covers, and their prices range between Rs 1,500 and Rs 7,000. The target audience is people between 18 and 40 years of age, and the company plans to market itself with the same brand ethos. The initial investment for Phase-1 of Lamborghini’s operations, to consist solely of displays in fashion magazines such as Vogue and GQ in India, is about Rs 10 lakh, which will spread over the next three to six months. The investments in phase two will remain roughly the same. The company is aiming at a five per cent market share of the Rs 500 crore computer bag segment in the first year, with a sale of approximately 250,000 bags. Tonino Lamborghini products are available in selected retail outlets, namely Hotspot, Reliance, eZone and Croma, where the company pays 20-25 per cent margin to the outlet.
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