India is third largest market for Lladro
After Japan and the US, the Indian market has surpassed Spain to become the legendary Spanish porcelain brand Lladro's third-largest market, as a dramatic uptick in sales in 2022 propelled the India business into one of the fastest-growing in the globe.
"We had 33% growth in 2021, and for 2022, we anticipate 35–37% growth. Global growth this year has been 15% higher than last year's pace," affirmed Mr. Fernando Gallego Cruz, Director of Global Sales at Lladro SA.
The company, which has its headquarters in Valencia, Spain, intends to open three additional stores in India during the next 18-24 months as part of its growth story. The company currently runs seven outlets across the nation, with Delhi NCR, Mumbai, and Bengaluru leading the way in terms of brand contributions, followed by Kolkata, Hyderabad, and Chennai.
In the last six to seven years, the India business, which now accounts for 10-12% of Lladro's global revenue, has doubled.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.