Gucci is one of the world’s most recognizable and coveted luxury fashion brands. Originally founded in Florence, Italy in 1921, Gucci has become a symbol of Italian craftsmanship and sophistication. While the brand has a global presence, India is an important emerging market for Gucci. As the Indian luxury market continues to grow, Gucci is focused on expanding its presence across the country to reach new customers. But just how prevalent is the brand in India currently? Let’s take a look at the number of Gucci stores in India to get a sense of the brand’s existing footprint.
Gucci Stores in India
As of 2023, there are 8 official Gucci stores located in India. Gucci opened its first store in India at The Oberoi in New Delhi in 2009. Since then, the brand has been slowly and steadily expanding its retail presence in the country. Here is the complete list of Gucci stores currently open in India:
| City | Store Name |
|---|---|
| New Delhi | The Oberoi |
| New Delhi | DLF Emporio |
| Mumbai | Jio World Drive |
| Mumbai | Palladium |
| Hyderabad | UB City |
| Bengaluru | UB City |
| Kolkata | Quest Mall |
| Chandigarh | Elante Mall |
As we can see, Gucci stores in India are primarily located inside luxury malls, hotels, and shopping complexes in the biggest metropolitan cities like Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata. The brand is yet to open standalone stores in the country or expand into smaller tier 2 and 3 cities. This indicates that Gucci is still in the early stages of growth in the Indian market.
Gucci Concessions in India
In addition to its lineup of standalone stores, Gucci also has a number of brand concessions inside luxury department stores across India. This allows the brand to expand its reach into additional markets. As of 2023, Gucci has concessions in the following department stores in India:
- Shoppers Stop – 6 locations
- The Collective – several locations
- Kimaya – 1 location
- Ensemble – 1 location
The exact number of Gucci concessions is difficult to ascertain, but is likely between 15 to 20 locations across India. The presence in department stores gives Gucci exposure in cities where it doesn’t yet have standalone stores, such as Pune, Chennai, Ahmedabad, Chandigarh, Jaipur, and Kochi.
Gucci Products Available in India
When it comes to Gucci products available for sale in India, customers have access to the brand’s complete range of luxury goods. This includes:
- Leather goods – Gucci is best known for leather items like its iconic handbags, wallets, luggage, and small accessories. Top-selling models like the GG Marmont bags, Dionysus bags, and Padlock shoulder bags are available.
- Footwear – Gucci’s opulent heels, loafers, and sneakers for men and women are stocked.
- Ready-to-wear – The brand’s clothing lines for both men and women like dresses, blazers, jeans, suits, and coats are available.
- Silks – Gucci’s scarves and ties in its iconic printed silks are available.
- Jewelry & Watches – Gucci fine jewelry collections as well as its stylish timepieces can be purchased.
- Belts – The Italian house’s signature belt styles for men and women are stocked.
- Eyewear – Gucci’s eyewear range including its popular sunglasses are available.
- Fragrances – Best-selling perfumes and colognes like Guilty and Bloom are stocked.
However, some very limited edition or runway pieces may not make it to the Indian market. Overall though, Indian customers can shop a vast selection of Gucci’s luxury offerings without the need to travel abroad.
Gucci Prices in India
As an ultra-luxury brand, Gucci commands premium pricing in India that is on par with international prices. Gucci does not seem to be following a specific India pricing strategy, since prices are consistent worldwide. Here are sample Indian retail prices for some popular Gucci items:
| Gucci Product | Price in India |
|---|---|
| Dionysus Small Shoulder Bag | ₹199,000 |
| Princetown Leather Slipper | ₹59,000 |
| Ace Sneaker | ₹49,000 |
| Belt with Double G Buckle | ₹25,000 |
| Ophelia Gucci Print Silk Scarf | ₹44,000 |
As we can see, items can cost anywhere from tens of thousands to several lakhs, putting them solidly in the luxury bracket. Gucci’s pricing reflects its positioning as an exclusive global luxury house. The prices remain consistent whether shopping in India or abroad.
Growth of Gucci in India
Although Gucci currently has less than 10 stores in India, the brand has major expansion plans for the country. Industry experts predict Gucci will open 30 to 40 stores in India over the next 3-5 years. This growth will be driven by:
- Rising affluence and disposable incomes among Indian consumers
- Increasing appetite for luxury goods, especially among under 40 demographic
- Strong existing brand awareness for Gucci in India
- Success of existing Gucci stores in India that have high sales per square foot
- Growing ecommerce making luxury brands more accessible
Gucci views India as a promising long-term market that is central to its global expansion strategy. The brand is tailoring its approach for India by designing India-inspired collections, working with local ambassadors like sports icons, and overhauling its digital approach. Gucci is also keen to tap into India’s wedding market which accounts for about 40% of luxury sales.
The brand is particularly keen on winning over Indian millennials and Gen Z who are highly brand conscious. Their rising spending power and desire for statement pieces makes them an ideal target audience. Overall, Gucci seems to be laying the groundwork now to become a major player in the fast-growing Indian luxury market in the coming years.
Key Locations for Future Expansion
Gucci’s future expansion is expected to focus on three key avenues:
- Flagship stores – Opening larger standalone flagship stores in Delhi, Mumbai, and other top tier 1 cities.
- Airports – Opening retail stores at major airports to tap into luxury travel retail.
- Ecommerce – Growing its online sales channel to align with shifting consumer preferences.
The brand is also likely to expand into more metro cities like Chennai and Pune. Gucci may also test the market in smaller tier 2 cities where rising incomes are enabling luxury spending. However, the core emphasis will remain on establishing flagship stores in India’s biggest cities where the highest concentration of HNIs reside.
Conclusion
While Gucci currently has less than 10 points of sale in India, the brand has set its sights on significantly growing its presence to tap into the vast opportunity offered by the Indian luxury market. With rising disposable incomes, favorable demographics, and shifting attitudes towards luxury, India is poised to become one of Gucci’s most important markets globally. The Italian fashion house is targeting 30-40 stores in India over the next 3-5 years. It is tailoring its offerings, pricing strategy, and marketing approach specifically for the Indian consumer. With a well-planned localization strategy, Gucci seems prepared to win over both established and emerging luxury consumers to make India a much more prominent market for the brand in the years ahead.