Gucci, world's leading luxury goods maker, on Thursday announced its entry into the Indian market through a tie up with the Murjani Group.
Gucci will, for a start, set up boutiques in Mumbai and New Delhi in 2007.
Having identified India as a key emerging market, Gucci is eyeing direct retail presence. The brand is part of the Gucci group, which is the world's third-largest luxury goods company.
Robert Polet, president and CEO of the Gucci group who was in India last month had said that they will prefer to set up stores in high streets rather than inside hotels.
Globally, the Gucci brand, which is associated with handbags and watches, sells high-quality luxury goods through directly operated stores, franchises, boutiques, duty-free shops and departmental stores.
The Murjani group, which is headquartered in New York, has been instrumental in developing and launching some of the most well recognised international designer lifestyle brands like Tommy Hilfiger and Gloria Vanderbilt. The Group will focus primarily on creating at multi-brand platform in India.
Tommy Hilfiger, the first super-luxury brand to be launched in India in 2004, has since spread across the country with about 200 licensed retail outlets.
The group plans to have a strong portfolio of major international brands, to address diverse market segments, including luxury, premium and specialty brands.