India is now among the top five markets for Spanish luxury figurine brand Lladro. The handmade porcelain figurines, costing anywhere from Rs 15000-25 lakh, have emerged popular in the gifting segment among HNIs and corporate bigwigs pushing India into the top league in the last one year.
On a flying visit to Bengaluru, Lladro’s global CEO Ana Rodriguez Nogueiras told ET, “Japan is our number one market followed by the United States of America and Spain. India is the fourth significant market for Lladro now.”
The Valencia-based brand entered India 13 years ago with limited edition sculptures of Hindu gods and classic pieces like cherubs and ballerinas
Calling India an emerging economy, Nogueiras added, “A total of 7% of our revenue comes from India. We have been witnessing a 10% year-on-year growth.”
At present, Lladro has eight boutiques across India. While Delhi and Mumbai are leading the pack, Bengaluru takes the third position for the 60-year-old brand.
“Bengaluru is our test market in India. 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,” said Nogueiras.
The brand chose to launch first-ever porcelain jewellery line and home décor at their flagship store in Bengaluru this year. While the sculptures of Hindu god Ganesha have been selling exceptionally well, the brand is anticipating the response from the Indian market for their latest limited edition of 299 pieces of Lord Balaji for Rs 18 lakh each.