Lladro names India as among its top five markets

By

Isabelle Crossley

Published
Sep 24, 2018

The luxury brand Lladro, which launched its porcelain jewellery line in Bengaluru earlier this year, has named India as its fourth most significant market and has been witnessing 10 percent year-on-year growth in the country.

Spanish luxury gifting brand Lladro has named India as its fourth most important market after Japan, the US, and Spain. “Japan is our number one market followed by the United States of America and Spain. India is the fourth significant market for Lladro now,” Ana Rodriguez Nogueiras, Lladro’s global CEO, told the Economic Times on a visit to Bengaluru.

Lladro, which entered India 13 years ago, is currently witnessing 10 percent year-on-year growth in India, according to Nogueiras. “A total of 7% of our revenue comes from India.” The brand has a total of eight stores in India and its most successful locations are Delhi and Mumbai followed by Bengaluru. “Bengaluru is our test market in India,” explained Nogueiras. “The IT city is home to many well-travelled double-income households who are becoming aware of luxury brands worldwide. We want to aggressively tap the techie population now.”

Lladro, which specialises in luxury figurines but also retails jewellery, has specialised products for the Indian market. The brand’s porcelain figurines retail from Rs 15,000 ($207) to Rs 25 lakh and its target audience are India’s High Net-Worth Individuals (HNIs).

The brand retails sculptures and figurines of Hindu deities designed for the Indian market and Nogueiras mentioned that the brand’s Ganesha figurines had been selling especially well. Catering to the local market is one strategy that has allowed the brand to grow in India.

Lladro recently released 299 statues of Lord Balaji which retail at Rs 18 lakh each and it expects the limited edition collection to do well this holiday season.