In a momentous stride towards market expansion and growth, Spanish luxury porcelain brand Lladró has inaugurated its second-largest store globally in Delhi, strategically positioning itself in India’s burgeoning luxury market. The unveiling, set against the backdrop of MG Road, a hub for elite designer brands, marked a significant milestone for the brand, known for its exquisite sculptures ranging from Rs 8,000 to Rs 2.47 crore.
Unlike customary launch events adorned with glitterati and festivities, guests navigated the store’s treasures with caution, given the delicate nature of Lladró’s artistry. Commemorating the brand’s 70th anniversary, the opulent store sprawls over 475 sq. m, standing as the eighth in Lladró’s Indian portfolio and the second-largest on a global scale.
Ana Rodriguez, CEO of Lladró, emphasized the strategic importance of India in the brand’s global landscape. India, currently contributing 11 per cent to global sales, has witnessed a remarkable growth trajectory from 8 per cent five years ago. Rodriguez underscored the brand’s commitment to direct investment in the country, managing stores in luxury shopping destinations across New Delhi, Gurugram, Hyderabad, Kolkata, Mumbai, Bengaluru, and Chennai.
The new Delhi boutique, a five-storey architectural marvel, features dedicated spaces for direct sales, showcasing classic and contemporary porcelain figurines, lighting collections, and more. The ground floor spotlights contemporary creativity under the New Concept line, while the second and third floors unveil the traditional legacy of heritage pieces and masterpieces under the High Porcelain category, respectively.
Rodriguez noted the evolving tastes of Indian customers over the brand’s two-decade presence, with a discernible shift towards appreciation for modern collections. Globally, Lladró derives 69 per cent of its business from heritage concepts, 21 per cent from new concepts, and 10 per cent from lighting. Rodriguez expressed surprise at the reception of modern collections, contrary to preconceptions of conservatism.
One standout collection, the ‘Spirit of India,’ featuring a diverse array of Hindu deities, has consistently captured the market’s imagination. Rodriguez highlighted its popularity, especially in the US, as a testament to the brand’s ability to emotionally connect with diverse audiences.
Despite global challenges, including the pandemic, Lladró’s business in India exhibited resilience, recording a 1.5 per cent growth in 2020 and a significant 43 per cent jump in sales in 2021. The brand’s success continued in 2022, with a robust 47 per cent growth between January and August, marking it as a period of unparalleled success. Rodriguez emphasized the brand’s openness to the young demographic, indicating plans for additional mono-brand stores in Delhi, Mumbai, and Bengaluru.
As part of Lladró’s strategic vision, online sales are becoming integral to the brand’s growth, with plans to increase online revenue from 15 per cent to 25 per cent globally over the next 5-6 years. Despite reservations about online purchases of delicate porcelain, Rodriguez assured consumers of robust packaging engineering to mitigate breakage concerns.
The inauguration of the New Delhi store aligns with Lladró’s broader expansion plan in India and Asia, reflecting the brand’s commitment to an omni-channel strategy, bolstering both digital and physical sales channels. With aspirations to capture a significant share of India’s growing home décor market, Lladró remains poised for continued success and recognition in the luxury segment.
