INDIA: Kiton bets on local market

Kiton in India: the Neapolitan fashion house, which specializes in the production of men's suits and high-fashion ties, intends to strengthen its presence in India. the company, which has already been present in the market in question since last year, thanks to a collaboration with the Mumbai-based company Regalia Luxury Clothing, plans to set up a joint venture with a local partner and will soon open single-brand stores in New Delhi and Mumbai. At present, the company's strategy is to open at least two stores by the end of 2014 or in 2015 at the latest.

Kiton India, whose global sales grew by 10% in 2013 over the previous year, has 45 stores scattered around the world, and according to inside sources, overall sales have grown considerably over the past 4-5 years despite the recession.

Such a transaction is considered most opportune for the company, considering the strong demand for men's luxury apparel that is occurring in the Asian country: according to consulting firm Technopak, the men's luxury apparel market in India, which is experiencing continuous growth, currently stands at around 17.3 million annually.

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