“Discussions for Kenzo are on with prospective parties. Currently, we will not be able to divulge any details,” a spokesperson for LVMH in Singapore said.
The fashion label would be making its foray into India under a franchising arrangement. The spokesperson added that bringing Kenzo to India “would be a project that will see a lot of investment”.
Indian market for luxury goods is estimated to touch $452 million in coming years making it the land of promise for global brands, says a survey on luxury goods and Indian consumers.
Earlier, LVMH India director Ravi Thakran said Kenzo and Thomas Pink were the two LVMH brands that were committed to entering India shortly. He said LVMH was looking at expanding India’s luxury retail environment, which is currently restricted to only five-star hotels.
“We are very serious about enlarging this environment to luxury malls. DFS is our international retail concept under which we take entire malls and have done so in Hong Kong and Singapore. The sizes of these malls range from 1-2.5 lakh square feet and have 30-50 boutiques and separate floors for perfume, jewellery and watches,” Thakran said.