Mukesh Ambani-led Reliance Brands on Friday said it has signed an exclusive agreement to sell French major Louis Vuitton Moet Hennessy's brand Thomas Pink's shirt collection in the country.
CESC Properties, a subsidiary of the group's power utility, CESC Ltd, is building the city's first luxury mall, Spencer's Galleria. It will house 20 luxury brands, a first for Kolkata.
The move also follows on the back of the worldwide slowdown and the company's plans to go slow on establishing new Tag Heuer exclusive boutiques. The company wants to develop high-end luxury accessories for exclusive retailing though the Internet.
It had initially planned to roll-out TAG Heuer phones in the first half of the current year, which it later revised to December 2008. The company now says it will launch the phones by March 2009. TAG Heuer has also revised the starting price of the phone, which was to debut in India for around Rs 2,20,000.
LVMH, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon in its stable, is planning to float a 1 billion private equity fund for emerging markets in Asia, of which 40-50 per cent will be dedicated to India.
Genesis Colours, popular for its high-end fashion label Satya Paul, is in advanced negotiations with Moet Hennessy-Louis Vuitton for bringing luxury apparel and perfume brand Kenzo to India.
Moet Hennessy Louis Vuitton known for luxury brands like Fendi, Christian Dior, TAG Heuer and Dom Perignon, has identified India as key to its expansion. The group is in talks with three leading domestic companies for partnerships.
In terms of price, Tag Heuer mobile phones will be positioned at the top end of the market and cost about Rs 2,21,000. Switzerland-based Louis Vuitton Moet Hennessy group, which owns the brand, has decided to launch the phones in India at the same time as their global launch.
He will now get a chance to take a guided tour to the iconic Jack Daniel Distillery in Lynchburg, Tennessee.
Private equity players believe it to be lucrative to invest in designer labels.
Looking at how the idea of gift giving and taking on Diwali has changed
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