Esteemed Italian bespoke shoe company, Santoni is broadening its footprint in India with plans to establish two additional luxury boutiques in Mumbai and Hyderabad by 2026.
The expansion is facilitated by Santoni’s Indian partner, Luxerati Retail, co-founded by Sanjay Kataria, who disclosed an allocation of approximately Rs 15 crore for this venture. A comparable sum was invested in inaugurating the company's Delhi store back in 2018. Currently, Santoni operates a single outlet in Delhi's Emporio mall.
Kataria revealed intentions to explore the launch of an exclusive online storefront dedicated solely to the Indian market, a move akin to Louis Vuitton’s strategy, slated to materialise by 2026. Luxerati Retail has experienced a steady growth rate of 15-20 per cent Y-o-Y, turning profitable in 2021 with a projected Rs 8 crore in sales for the current fiscal year
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Santoni traces its origins to 1975 in Corridonia, situated in the shoemaking hub of the Marche region, Italy. Founded by Andrea Santoni, the company revolutionised artisanal processes, specialising in crafting products from both regular and exotic leathers such as ostrich and alligator, meticulously hand-cut, colored, and stitched. Today, the brand is stewarded by Andrea's son, Giuseppe Santoni.
India's luxury market is forecasted to have reached $8.5 billion in 2023, a significant surge from $2.5 billion in 2021, as per Euromonitor International. Experts predict even more substantial growth, with a Bain & Co. study projecting a 3.5-fold increase by 2030. This surge is propelled by India's rapid economic expansion, currently outpacing major economies with a recorded 7.6 per cent growth rate in the third quarter of 2023.
