MILAN — Dolce & Gabbana is zeroing in on India, with the opening of two boutiques in New Delhi by the end of the year as part of an ongoing expansion strategy in emerging markets.
At the same time, the company said Friday it expects to have earnings before taxes, interest and depreciation and earnings before interest and taxes of 304 million and 229.1 million euros, respectively, or $405.5 million and $305.5 million, for the fiscal year ending March 31. Revenues will total 1.05 billion euros, or $1.4 billion at current exchange rates, a 30 percent increase from the previous year.
Wholesale revenues are estimated at 1.31 billion euros, or $1.74 billion. The in-house production of the D&G diffusion line last year helped boost the company's sales over the 1 billion euro, or $1.3 billion, mark. The spring collection was the first to be entirely produced and distributed in-house since Dolce & Gabbana ended its 12-year licensing pact with IT Holding.
As for the expansion into India, Cristiana Ruella, director of general affairs, said in a statement that the country "is still a new territory for us and we look forward to being part of the development of the luxury sector in the country."
The firm is finalizing an agreement with leading Indian real estate developer DFL Group, which will allow the opening of Dolce & Gabbana and D&G boutiques at New Delhi's new prestigious mall, Emporio. These will be the company's first directly operated boutiques in India.
"We see this project at Emporio as a great opportunity, the first step of a long-term investment plan. There is no doubt that India is a promising market with great potential, and we will fully exploit it using the synergy between our great experience in the luxury sector and DFL's deep knowledge of the local market," said Ruella.
The company has 90 directly operated stores worldwide. The firm has been expanding in emerging markets such as China with its wholly owned subsidiary. Last year it opened boutiques in Beijing, Shanghai and Hong Kong.
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