New Delhi: AstorMueller AG, the Switzerland-based European footwear major that manages brands like bugatti, TT.BAGATT and Salamander has announced the formation of its Indian joint venture, nuvora, it said in a media release on Tuesday.
This strategic move comes as part of AstorMueller’s broader push to make India one of its largest markets. To capitalize on India’s vast growth opportunities, with its rapidly expanding consumer base and increasing demand for premium international brands, AstorMueller has partnered with Gaurik Group, India’s premium retail sector player operating exclusive outlets for several international brands across the country.
“In a continent-sized market like India, where cultures and tastes differ from region to region, having a localised structure with decades of experience will help us grow exponentially and turbocharge market penetration. Though our identity is evolving, our dedication to technology, craftsmanship and community remains steadfast, what transforms is the pace of our growth, execution, and development,” said Sandip Baksi, CEO of nuvora.
nuvora plans to reach the top 20 cities across India, with a multi-channel effort, through both online and offline channels, and to open 10-12 bugatti brand stores this fiscal, the company shared in a statement.
Sirish Kumar, CEO of AstorMueller India said, “We see immense potential in this partnership and are confident that it will redefine the premium footwear landscape in India.”
