GUCCI to open 2 more stores in India by year-end

New Delhi, Mar 29 (UNI) GUCCI today said India will emerge as one of its key market in the coming years and plans to open two more stores in the current year.

''India will emerge as one of our key markets in the coming years. However, today it is still in a state of fantasy,'' company CEO Mark Lee said at the 'Mint Hindustan Times Luxury Conference' here.

Quoting a Nielsen survey, he said that aspiration levels in India were very high and 48 per cent of the Indians aspire for a GUCCI product.

Currently, GUCCI has two stores in India and plans to open two more in 2008, he said.

However, he added that infrastructure remains a constraint.

''Unlike China, where GUCCI opens one store every six weeks, the company is far more cautious in India,'' he said.

UNI MP PDT BST2111