The domestic luxury market is projected to reach $ 14 billion over the next few years, and in a bid to leverage these growth opportunities, Spain-based Tous, a high-end jewellery and accessories retailer, is shortly planning to make its debut here. In an exclusive conversation, Jose Maria Folache, CEO of TOUS, highlighted their India-related strategy.
What factors led you to evaluate a foray in the Indian market?
The rapidly expanding high-end segment here just can’t be ignored and we are keen to establish our presence in the Indian market.
In addition, I would also like to highlight that with the growth of the organised retail industry in India, it has created several opportunities for leading global brands including us.
No doubt, the legal environment is quite complicated here vis-à-vis peers in other high growth market, but the growth opportunities in the Indian jewellery market are rather ‘attractive’ on a long-term basis.
Have you found a local partner?
No, but we are currently looking for an Indian partner. We are also keen on establishing a retail presence in both New Delhi and Mumbai.