One of the leading luxury lifestyle brands in India, the DMart Exclusif has recently announced that it is planning to set up a manufacturing unit in the country very soon. The company officials have informed that the Italian design house Linea Argenti, will be assisting it in the process and the proposed new unit in Gwalior will be utilized in order to make high-end decorative art pieces in silver. The officials also said that the companies will be making an investment of around Rs 10 crore in the first phase of the project.
The Dolphin group currently owns the DMart Exclusif and the Chairman of Dolphin group, Mr. K. V. Rao was explaining the principal reasons behind making this huge investment for establishing a new unit. He said, "The market for high-end luxury goods is showing an upward march. The facility will be in place by next year and will make decorative art pieces in sterling silver". He added that the company is currently having an exclusive manufacturing arrangement with the Linea Argenti and the Italian company was doing contract manufacturing for them, so far.
The sources from the industry have informed that the two companies have already formed a new Joint Venture between them for the purpose and DMart will be holding a 75 per cent share in the new joint venture. Informing that the Italian partner will hold the rest of the shares, Mr. Rao said, "We have established ourselves in the luxury segment and did not want to piggyback on international brands for long. Our vision is to be a key international luxury brand". He also said that they are expecting the new facility to help them to achieve both logistic and cost advantages in the future. The sources from the industry added that the DMart is currently operating seven exclusive outlets and 14 franchises in India.