Giorgio Armani’s foray into Bengaluru is being put off, as his 51:49 JV with DLF has stalled discussions to come up with a store and a cafe in the city’s highstreet UB City mall, reports ET.
The JV has been working on setting up a 10,000 square feet Emporio Armani store accompanied by an elite cafe-cum-bar at The Collection Luxury Mall, a part of UB City on Vittal Mallya Road, Bengaluru. The city was expected to host India’s first Armani cafe, which normally operated as part of the large format fashion retail stores.
According to the report, the plans for Armani store and cafe at UB City have been dropped, for the time being at least. The decision to slowdown new stores was taken in the wake of the deteriorating consumer sentiments, and given the fledgling nature of India’s luxury market.
In late 2008, Armani opened its first stores at DLF-owned Emporio luxury mall in New Delhi. The $2-billion privately-held enterprise of eponymous designer Giorgio Armani operates fashion business under several lines such as Giorgio Armani, Emporio Armani and Armani Exchange straddling price points in the luxury segment.
— IndiaRetailing Bureau
