Mumbai: Leading Italian luxury linen brand Frette has entered into the Indian market with the opening of its first store in Mumbai and is eyeing a revenue of USD 20 million from here in three years.
The Milan-based company has entered through a franchise route.
"Our expectation from here is huge. A revenue of USD 20 million in three years is a good number," Frette Worldwide Sales Director, Home Division, Riccardo Ronconi, told.
He said the company has signed the licensing agreement with global company Elite Lifestyle for the franchise here.
"At the moment it is only franchisee that is investing here, but in future we are open to investments as well.
"We plan to open eight to nine stores in the next three years. It will be primarily in the metros, but we will also look at tier-II cities," he said.
The Italian brand has launched its select range of bed linens, baby wear, bags and perfumes, and plans to have an India-dedicated range.
"We are working with all our partners to have a collection dedicated to India, which will be Indian style and will be available across all our stores in the world in September," he said.
On sourcing from here, he said, "Our clients are interested in the made-in-Italy tag, but for the hospitality division we are already sourcing from here. Maybe in future we may look at sourcing for the home division too."