French cookware firm Le Creuset to open outlets in India

NEW DELHI: With India allowing 100 per cent FDI in single brand retail, French premium cookware company Le Creuset is set to open its own outlets across the country. 

The company, which has been selling products through wholesale channels and to the hospitality sector here, is now scouting for space in premium, high street locations in metros to open its own outlets. 

"Retail is a big business for us. Globally also big chunk of our turnover comes from retail. We were among the first companies to have sought permission to begin retail business in India. Le Creuset will aggressively grow business in India," company's Commercial Manager Ankur Damani told PTI. 

Le Creuset had received approval for opening fully-owned single brand stores in March this year. 

Damani, however, did not not share the number of stores the company would open or investment it would make in the country. 

"We do not have a number in mind. As we are a premium company, we would only set up our stores in premium locations. There is space availability issue. Investment would depend on the number of stores we open," he said. 

Initially, Le Creuset plans to set up pop-up temporary shops in premium malls till the time it leases space for company-owned stores. It will open first one in a south Delhi mall this month. 

"Apart from pop-up shops we are also looking at tapping e-commerce channels. But we do not want to discount our products. These days online channels offer heavy discounts. We will look for partner who do not operate with heavy discounts," Damani said. 

Le Creuset will import products from France, Damani said, but added it would meet the 30 per cent sourcing requirement from India for 100 per cent FDI in single brand retail. 

The company doesn't share its turnover but is present in more than 75 countries.