To be honest, I have never seen any cloth made by Armani in real life. Well, I am in Bangladesh, one of the poorest countries on earth and 90% people do not earn enough money in a one year to buy an Armani suit of 3,000 euro. 90% of Indians cannot think like that too but some people in India these days have that money- at least Armani thinks this way. The company has 25 outlets in China and 55 in Japan- so why not India? After all, India has the third largest economy in Asia. Armani has now announced its intention to enter in the Indian market by opening 4 outlets in Delhi and Mumbai by mid 2007.
The only thing to finalize is the mode of entry. Mr. Armani has not been yet to decide whether his company enters directly in the Indian market or enters through a partnership with an Indian company. Nevertheless, Armani bosses have set a lofty target of earning money from the Indian market within 1 year of starting operation.
These days, Armani is earning a good deal of money from Asia and the Indian market will only contribute to increase its profit. Many rich Indians already wear Armani clothes. They will surely get excited to find Armani outlets in their own backyard.
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Yes, there are many companies coming to india and hoping to gain marketshare.
However, india having the 3rd largest economy, in what sense?
Posted by: manish jain | April 21, 2006 11:05 AM | Permalink to Comment