Zegna opens new outlet in India

To inaugurate the new store in Mumbai, the first directly-managed flagship store on the Indian subcontinent, Paolo Zegna, chairman of the Ermenegildo Zegna Group, recited a prayer in Indian (puja), which is said to bring good luck at the start of a new venture. The opening is in fact part of a worldwide expansion program which will see new and important openings during 2007.

It also puts down significant roots for the Zegna brand in India, one of the first luxury brands to operate on the Indian market with a majority shareholding (51%) following the new guidelines established by the Office for the Promotion of Foreign Investment. Paolo Zegna said: "I am convinced that we have made this decision at the right time, given the considerable growth that is characterizing India and its economy".

The store is inside the Taj Mahal Palace and Tower and, according to the company, its area of 100 square meters makes it the largest luxury boutique in India. With a presence in over 60 countries with 501 stores, 198 of which are wholly-owned, in 2006 the Zegna Group's billings were Euro 779.4 million (+9.4% compared to 2005), 86% of which came from foreign markets.