Global brands still bullish on India
International brands are coming in hoards in search of safer markets and cash-rich customers. This is due to a bleak outlook in developed markets where purchasing power has been severely eroded, feel experts, reports Lalatendu Mishra.business Updated: Nov 19, 2008 22:12 IST
International brands are coming in hoards in search of safer markets and cash-rich customers. This is due to a bleak outlook in developed markets where purchasing power has been severely eroded, feel experts.
“This is the economic reality, many more foreign brands will come to India, where the impact of global meltdown is not that severe,” said Jagdeep Kapoor, chairman & managing director, Samsika Marketing Consultants. “But they must have the right marketing strategy to satisfy customers’ needs. There is huge potential in India provided the right brands are launched.”
Italy’s famed Ferragamo Family Estate Wines has entered India with five of its premium brands costing Rs 8,000 to Rs 12,000 a bottle in duty free segment in tie up with city-based wine importer FineWinesnMore.
Five labels from IL Borro and Castiglion del Bosco are one white wine called Lamelle and four red wines that include IL Borro, Pian Di Nova, Rosso Di Montalcino and Brunello Di Montalcino.
Moen Inc, a ‘Fortune’ group company and a global leader in the kitchen and Sanitaryware industry has entered India with the launch of its first exclusive faucets boutique in Delhi. The company, a market leader in the US and Canada, will set up an assembling unit in Baddi.
“India is a very important market for us,” said Moen president David Lingafelter. “Soon we will have a presence in over 15 cities.”
Similarly, in airlines industry, several global players such as British Airways, Virgin Atlantic, Singapore Airlines and Emirates have approached Vijay Mallya to pick up a stake in Kingfisher Airlines.
These are only few examples and more brands are to enter, as the market conditions get tougher in the west.