Villeroy & Boch signs Indian JV
German luxury tableware manufacturer Villeroy & Boch is to tap India’s luxury products market with plans to develop its own stores.
Villeroy & Boch has forged a joint venture with Indian company Genesis Luxury to roll out 16 stores in five years, with the first to open at Palladium Mall in Mumbai shortly.
Being the representative of luxury brands such as Canali, Bottega Veneta and Burberry, Genesis Luxury has the expertise and market know how to operate Villeroy & Boch stores in India, says director and tableware business unit manager Nicolas Luc Villeroy.
“Our aim is to develop the Indian market qualitatively with the new partner. The Indian market for luxury products has been growing continuously in recent years. This new partnership thus comes at exactly the right time, enabling us to extend our local presence,” he said.
Genesis Luxury MD Sanjay Kapoor said the new partnership is an extension of the company’s luxury fashion and beauty business to home interiors.
Villeroy & Boch is also present in India through its bath and wellness, restaurant and hotel businesses.