Torero puts global brands on Indian map

Even as it strengthens its distribution infrastructure, Torero Corporation, a global marketing licensee for luxury brands like Cross and Police, among others, is set to expand its global footprint.

The Kolkata-based company, which has a distribution networks across 50 countries, marked its entry in the Indian market only last year. Torero Corporation CEO Yashovardhan Gupta said, “India is price sensitive market, and the current duty structure is much more beneficial for exporting than doing business here. However, with consumption on the rise, we find that India too is gaining ground when it comes to international brands.” 

As a manufacturer of luxury lifestyle products for over 30 years, the company has been able to leverage its strong distribution network to showcase at 1,500 points-of-sale across the world. The company is set to take the number to 2,500 by the end of the year.

The domestic distribution network is set to expand from 300 to 500 points-of-sale by 2018, and this includes the company’s own multi-brand store Brand Boulevard.

“Multi-brand outlets will remain core to our expansion strategy in India, while we intend to set up exclusive outlets for Cross and Police in Kolkata by March, and some more across the country in the following days. We believe these brands have built lasting impressions on consumers and command substantial market sizes. We want to able to do that for more brands,” he said, adding that the company is looking to acquire its next brand by early 2018. “When it comes to brand acquisition, we focus on undervalued brands that boast of quality, or verticals within popular brands that may be undervalued,” he said.

With a major portion of its revenues coming from Cross (85%), and Police, till recent times, the company is set to close the current fiscal with Rs 40 crore in revenues.
“We grew 40% last year. Now with more brands in out kitty and a solid infrastructure in place, we expect revenues to touch Rs 100 crore in the next fiscal,” said Gupta.