By Vishnu Makhijani, IANS
New Delhi : At a time when a slew of international luxury brands are storming Indian markets, a Rs.2.5 billion (approx $57 million) Mumbai-based group is doing just the opposite by taking top-end Indian lifestyle products abroad and hoping to open its first outlet in Dubai by the end of the year.
"Three years ago, we opened the Rose Salon (in Mumbai) that purveys jewellery, watches and lifestyle accessories by appointment only (to some 3,500 top-end Indian families). Now, we are taking the concept to Dubai and hope to open by the end of the year," Rose group managing director Biren Vaidya said.
The group also plans to open a second salon in Mumbai, as also in the national capital and Bangalore, in the next few months as it aims to quadruple its turnover in the next three years.
"Through the Rose Salon, we have created an environment and comfort level that high net-worth individuals can relate to. We have created a space that gives them the true experience of luxury," Vaidya told IANS about the concept of by-appointment-only shopping.
"The Rose Salon is the result of painstaking attention to detail, from the foyer, to the colour scheme, to the original works of art that are displayed in their natural settings," added Vaidya, who was in the capital for the just-concluded JCK international jewellery and watches exposition.
The salon is not just about personal buying. Clients often fall back on its expertise when they need to give that special gift but aren't too sure what it should be.
"We keep 'With best compliments' cards of our top 100 customers with us. They are constantly travelling and will often call up to say: 'I need to send a gift worth so much, can you send me some ideas?' We email these to help them come to a decision and then despatch the required product," Vaidya pointed out.
He is extremely upbeat about taking the Rose Salon to foreign shores.
"The concept exists abroad but still I've got calls from the owners of a number of these salons who have been very impressed by what we have created and who want us to take it to the US and Europe because of its very Indianness," Vaidya maintained.
"We'll make a start from Dubai and see where we can take it from there," he added.
While all the products in the Salon are designed and manufactured in India, the Rose group also markets and distributes over 25 leading international brands in the country to 300 points of sales across 40 cities. These include leading stores like Shoppers' Stop and Westside.
"We have built up a reputation of successfully establishing every brand we have launched in India. This makes us the preferred partner for global lifestyle brands entering India," Vaidya said.
Thus, it is no surprise that the group counts labels like Versace, Pierre Cardin, Audemars Piguet, Antonio Bernini, Christian Bernard, Mont Blanc, Corum, Tag Heur, Espirit, Van Heusen and Puma in its stable.
The group markets its products in three segments: luxury, affordable luxury, and fashion.
In the first, prices start at Rs.50,000 and rise to upwards of Rs.1 million. In the second, they start at Rs.10,000 and peak at around Rs.400,000. Prices in the fashion segment are in the Rs.2,000-Rs.25,000 range.
"Thus, there is a wide variety on offer for a range of customers," Vaidya pointed out.
(Vishnu Makhijani can be contacted at [email protected])