India growing more than other markets for Lladro: global chief
Ana Rodriguez. India accounts for 11% of Lladro's global sales. The company generates 69% of its business from heritage concept (high porcelain, classic sculptures, home and licences), 21% from new concept (design sculptures, scent and jewellery), and 10% from lighting.
Lladro will also have an «important» investment plan for developing online sales in the country next year, besides launching more mono-brand stores in the country, according to Rodriguez.
With the new boutique, Lladro now has eight own-brand stores in India in markets such as New Delhi, Gurugram, Mumbai, Bengaluru, Hyderabad, Chennai and Kolkata.
«For us, India is not only a key market but a very strategic market,» Rodriguez told ET.
«Because we have seen growth in this market since the beginning. We have been here since 2000 and people love our products. And we still have room to grow.
India was 8% of our global sales five years ago and now it contributes 11% to our global sales. It's growing much more than any other market.»
According to Rodriguez, Japan is the company's biggest market, accounting for a quarter of its sales.
«In terms of future growth, we are looking at the US, China and India. In India, our strategy is to have our mono-brand stores and control the stores directly because the brand and the products are so well understood that we want to preserve the way people see the brand,» she said.
