The brand has one shop in Delhi’s Emporio Mall, which opened in 2018.
Santoni, an Italian bespoke shoe business, is expanding its footprint in India, with plans to open two more luxury stores in Mumbai and Hyderabad by 2026.
Sanjay Kataria, co-founder of Santoni’s India partner Luxerati Retail Pvt. Ltd, stated that the company plans to invest approximately ₹15 crore in expansion. In 2018, the company paid a similar sum to open its store in Delhi. Currently, the company has one outlet in Delhi’s Emporio mall.
Kataria stated that the corporation is also considering opening an online storefront dedicated solely to the Indian market, similar to what Louis Vuitton did here, which will go into effect in 2026.
Luxerati Retail has grown by 15-20% year on year. The company reached profitability by 2021 and is targeting sales of ₹8 crore for the financial year.
According to Mint, Santoni began business in 1975 in Coridonia, the heart of the Marche shoe-making district in Italy. Company founder Andrea Santoni industrialized the craft by focusing on hand-cut, dyed and sewn products from exotic leathers such as ostrich and crocodile skins. Andrea’s son Giuseppe Santoni now runs the brand.
India’s luxury industry is growing rapidly and is expected to reach $8.5 trillion by 2023, surpassing $2.5 trillion by 2021, according to Euromonitor International
Experts conclude that the future will hold even larger growth rates according to the Bain & Co. study, where the research projects a 3.5-fold expansion by 2030 This takes to rise by India’s rapid economic progress, which is world’s first iteration with a GDP of 7.6% in the third quarter of yr.
Nevertheless, these footwear brands from different parts of the world have a robust public image and keep experiencing very challenging regulations, much to the dismay of all the businesses involved. Mint discerned in an article that new import quality control order (QCO) laws went into effect on July 2023. All footwear, irrespective of any premium label, had to be in unison with the Bureau of Indian Standards (BIS) and face ISI marking.
The very abundance, while fulfilling the objective of satisfying most, rather withers the idea of luxury apparel and its associated connotation. This embossing of the ISI logo, which is the only thing that hinders the perfect material design of these high-end products, is probably resulting in a reduction in their value proposition.
In fact, right now businesses are relying on stock that arrived before 31st of December, 2023 and the fact is that they are still trying to solve the underlying problem. However, such imported luxury footwear will be taxed by the government at the rate of “38% plus 18%” GST.
