US based LuckyClover, Inc. engages Francorp for opening outlets in India
LuckyClover, Inc., a leading manufacturer and supplier of Murano glass jewellery engages Francorp, a part of Franchise India; Asia’s largest integrated Franchise and Retail Solutions Company to open outlets in India.
The designs of LuckyClover, Inc. will be targeted at customers with high brand consciousness and sophisticated tastes. The patrons will include young women with tastes for both traditional attire and casual wear. The products will also cater to working women in middle and higher class segments between the age group of 25-45 years. Keeping in mind these customers, LuckyClover is focused at high-end costume jewelry that goes with a larger variety of dresses.
Ms Natalie Hesse says, “We have successfully proven our credibility in retailing and have substantial support backed by experience and industry knowledge. LuckyClover exclusive outlets should concentrate on developing the Indian market where in the sale points are qualified to double up.”
Jewellery manufacturers and retailers have been expanding their retail presence in India in precious, semi precious and silver segments. The Indian Jewellery market is worth USD 19 billion; this is currently just 8.3 percent of the global market. The relevant fashion jewellery market in India consists of only about 15 percent of the entire market which is USD 2.85 billion. Hence there is a large scope for various semi precious jewelry segments to carve their own market space. India is one of the largest jewelry markets of which 97 percent are sales are by family jewelers. However, organized retail jewelry has increased from US$ 350 million in 2006 to US$ 2.28 billion 2010. There has been a shift in demand from only precious to both precious and semi precious branded jewellery amongst Indian women due to the rise in price of gold.
The retail and jewelry market is on a high and the future looks bright backed by a strong Indian economy and consumerism. A number of jewellery distributors would like to have a product such as LuckyClover’s on board and diversify their offering. This is definitely an opportunity to address the market with an extensive network which offers excellent products, exclusive designs, assured quality of product & service experience for the customer to come back, says, Mr Gaurav Marya, Managing Director, Francorp
The Company will initially start with importing Italian glass to the US for design and manufacturing at its current facility in Michigan and then exporting to India. A contract manufacturing unit in India will be considered later.
Since its inception in 1976, Francorp has been the unsurpassed leader of the Franchise Consulting Industry globally. Over the years, Francorp based out of Chicago, has assisted companies in virtually every market segment with its patented processes and unmatched expertise. The clients include companies like Bridgestone, XEROX, Shell Oil, Hallmark Cards, Encyclopedia Britannica, Mad Science Group, Pollo Camperio, Ace Hardware, BP, Fruehauf, and Gant, to name a few. In India, Francorp has associated with Franchise India Holdings Ltd. and has coalesced in an experience of 42 years.
About Franchise India
Franchise India is Asia’s largest integrated franchise solution company since 1999, with an absolute authority on Franchising, Licensing, Retailing, Real estate and Marketing. The Company has consulted for several major brands over these years like HCL, MGF, Quality Walls, Tata, Gitanjali, HSBC, Levis, JK Tyres, Lakme, D’damas, Adidas, Euro Kidz, The Apollo Clinic, Chhabra 555, Kidzee, Motilal Oswal, Rosebys, Next, Welhome and more, through media, advisory and exhibitions.
With its strategically formed divisions, Franchise India has created its own niche as the pioneers of the Franchise Industry and a small business authority.
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