India is third largest market for Lladro

The Indian market has surpassed Spain to emerge as the third largest market for iconic Spanish porcelain brand Lladro-after Japan and the US-as a sharp rebound in sales in 2022 catapulted the India business into one of the fastest growing in the world.

“In 2021, we grew 33%, and in 2022, we expect to grow between 35 and 37%. Globally, we are growing at 15% year-to-date compared to last year,” said Fernando Gallego Cruz, global sales director, Lladro SA. “The Indian market has a promising future for us and we will invest in the market.”

As part of its growth story, the Valencia, Spain-headquartered company plans to open three new stores in India in the next 18-24 months.

Currently, the company operates seven stores in the country, and Delhi NCR, Mumbai, and Bengaluru are the top contributing cities for the brand, followed by Kolkata, Hyderabad and Chennai.

The India business generates 10-12% of the global business for Lladro and has doubled in the past 6-7 years.

Though the Spanish company’s heritage and contemporary pieces have always done well in India, a key driver of sales in India has been its ‘Spirit of India’ collection that includes sculptures of Shrinathji, Lord Balaji, Lord Ganesha, Goddess Lakshmi, Sai Baba, Lord Krishna and Hanuman, among others.

“About 35-40% of our sales come from our ‘Spirit of India’ collection,” said Cruz. “These sculptures do very well in international markets like Dubai, the US, Singapore, and the Caribbean too, which have large Indian populations.”

Cruz said that a high-porcelain sculpture of Lord Balaji, which was launched in 2018-now costing ₹27 lakh-holds a special place in the company. “We call him the Lord of Miracles. The company faced some tough times when it was changing hands, but we sailed through,” said Cruz.

The brand collaborates with well-known designers and artists, and Cruz says it is willing to consider an Indian designer.

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