The French premium apparel brand has inspired many in various countries for years, including India. Now, they want to explore the Indian market more aggressively, as they expect business growth in India.
Lacoste plans to open Lacoste stores in different cities in India in the next five years. They have made this plan because they think that the Indian consumer market is one of the biggest in the world, and Lacoste’s presence in this region will help them grow as a brand in this market and open new horizons. Lacoste’s management is also planning to capture the Indian audience through Lacoste’s online presence in India.
Marcus Meyer, The CEO of Lacoste’s Asia Pacific region, interviewed India Retailing. He is in India for the first time. He said, “India is one of the fastest emerging and interesting markets. We have 53 points-of-sale, including seven digital marketplaces already in India. The points-of-sale include our boutiques along with premium online marketplaces… At the moment, we are in 17 cities in India and the target that we defined together with our partner is to go to approximately 29-30 cities in India.”
According to Marcus Meyer, they will also expand their existing stores because they want to add more products to these stores. Currently, they acquire a space of almost 100 square meters for Lacoste stores. However, they plan to increase the space size to 140-150 square meters.
Meyer also mentioned his plans to make Lacoste products available for online audiences in India. Currently, Lacoste is attached to six multi-brand e-commerce marketplaces. They want to extend this number in India and want 8-10 marketplaces. However, they will choose only those marketplaces that ultimately focus on fashion.
Lacoste has been in India since 1993 as a retailer. They have a direct-to-consumer e-commerce store that Lacoste has dedicated to the Indian market. The identification of Lacoste is simple as you find a crocodile logo on polo shirts.