Shoppers Stop will exclusively retail Cross and Police-branded leather accessories across all lifestyle stores. The Indian retailing company has entered into an ‘exclusive’ agreement with Kolkata-based Torero Corporation, which has acquired exclusive rights to manufacture and distribute Cross and Police leather accessories.
As per the agreement, the first phase of the launch would focus on leather bags, belts and accessories, Yashovardhan Gupta, Torero director said. In the second phase, Police-branded shoes would be added, followed by the Spanish brand Torero’s leather accessories and Swarovski IB handbags. Torero Corporation hopes to become one of the major players in the leather accessories categories, Gupta said.
The firm recently acquired the rights to design, manufacture, distribute and retail Police-branded leather accessories, bags and shoes in India, USA and in Western Europe. The company, which is paying a royalty to the Italian brand Police for manufacturing and distribution rights, is expecting a business of 10-million US dollar in the current financial year from this business.
“Since India is a price-sensitive market, we plan to offer premium quality products at competitive price. Police leather accessories in India will be 30-35 per cent cheaper than the global prices,” he said. The company also plans to launch its own brand, Torero in the Indian market in 2016-17.
Set up by ISB Alumni Yashovardhan Gupta, and Varun Narayan, the Kolkata-based startup bagged the exclusive global license for the American writing instrument brand, Cross in 2012.
The partnership with Police will help the company expand its product portfolio.
