Llardo aspires for the niche
By SiliconIndia | Tuesday, 28 November 2006, 06:00 Hrs
Chennai: Lladro, the famous porcelain figurines company of Spain, has chosen "high porcelainâ as its new focus in the Indian market, said Angelique O'Brien, Chief Executive Officer, Lladro India. The company wants to brand itself as a very niche brand, and is manly looking at selling large articles, the prices of which will start from 100,000. Llardoâs chandeliers cost around 550,000.
While prices of Llardo now start from 8000, the average spent on an item in India stands at 60,000. The new plan also includes tapping into the wedding and home dÃ©cor market. âThe market for figurines is limited but not so for porcelain products," explained O'Brien. The brand is diversifying into porcelain jewellery, chandeliers, bath accessories and the like, all of which will be launched around January next year.
Lladro India Pvt. Ltd was formed recently in a joint venture with the parent companyâs long-time counterpart SPA Agencies. It is shoring up its retail presence in the country by setting up new boutiques and redesigning existing ones. By the end of 2007, the company hopes to have 10 self-owned boutiques, up from the current five. The joint venture, which will pump in $10 million into India (apart from real estate costs), has spent around $8,00,000 on its three-storied boutique soon to be opened in Chennai, O'Brien said.
While the turnover from Indian business is $2 million, the companyâs worldwide turnover is $300 million, and is expected to touch $7 million in the next three years. Said O'Brien, "For some reason, Indians are crazy about limited and signed editions.â Keeping an eye on the Indian market, Lladro has made figurines based on Indian characters and motifs both in limited editions and open issues.
The biggest markets for Lladro in India are Delhi, Mumbai and Chennai. Around 33 percent of its sales come from the non-metro cities and smaller towns such as Ahmedabad, Chandigarh, Kochi, Ludhiana and Varanasi. Lladro also takes on commissions, and is now working on a bust of an African head of state.
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