The iconic brand intends to invest $8 million to expand operations and open an exclusive store in the country in the next few months
Mumbai, March 31, 2015: Cross, the legendary writing instruments brand with a heritage going back 170 years, has debuted its line of fine leather accessories in India by launching the 2015/16 collection for the discerning consumer. The product range broadens Cross’ existing offerings to include men’s and women’s leather wallets crafted in 100% top grain, Spanish leather, men’s and women’s bags, belts and technology products such as smart wallets, Apple-approved iPad, iPhone and other award-winning smartphone cases as well as accessibly priced laptop bags, all available in attractive colour combinations.
Said Yashovardhan Gupta, Director & CEO of Torero Corporation,the exclusive global licensee of Cross Leather Accessories: “Cross is ranked amongst the top 3 brands in over 40 countries in brand awareness and has phenomenal brand recognition in India. Its brand values of entrepreneurship, ethics, quality and creativity resonate with the youth. Indian consumers have been gradually shifting away from over-exposed logo brands to high-quality, expertly handcrafted accessories. They have been seeking Cross leather accessories for a long time and we felt it was the right time to launch our 2015/16 collection in the country. The pre-launch test online for Cross leather accessories was a big success, with Indian consumers ranking the products at a whopping 4.9/5.00, the highest ranking in leather accessories.”
While men’s wallets and belts start at Rs 1499, women’s wallets and purses are available at Rs 1,999 onwards. The Red Dot design award winning, anti-theft, loss-proof Grabado Tech+ wallet is priced at a reasonable Rs 4,999. Cross has always been known as a great gift, and the brand would also be launching fantastic, accessibly priced gift sets containing wallets, belts, etc. The Cross leather accessories would be available at all top department stores and chain stores in Tier 1 and Tier 2 cities as well as online through Flipkart, Amazon.in, Snapdeal, Myntra and Jabong. Cross also intends to open an exclusive store in India too within the next few months.
Said Yashovardhan Gupta, Director & CEO of Torero Corporation:"Cross is projecting $15 million worth of leather accessories business from India in 2015-16. We are keen to become the leading leather accessory player in the country within 2-3 years. Accordingly, we would be investing aggressively to the tune of $6 million in plant & machinery and R&D and $2 million in Advertising & Promotion. The global market for accessories has been growing at 16% year-on-year. In India, however, it has been expanding at 25% fuelled by the massive demand for quality accessories. This growth would continue, and Cross, with their global collection of leather accessories, has chosen to price its products at extremely attractive prices to rapidly become the accessory of choice for the Indian consumer.”
Cross has its globally approved factories in the US, Spain and India. The products earmarked for the Indian market, though crafted in 100% top quality, Spanish leather, would be sourced from Cross' factories in the country. The brand considers this as a great 'Make in India' opportunity. As the demand increases, the capacities in the country would be expanded further.
Cross was established in the US in 1846 and has long been known for the incredible attention to detail, quality and luxury. This same quality consciousness is the reason why Cross's 2015/16 leather accessories collection has been winning awards worldwide. Cross is endeavoring to change the paradigm at which Indian consumers purchase leather accessories by offering them the highest quality products at accessible prices.
Cross is the iconic writing instruments and leather accessories brand established in the United States in 1846. As the Official writing instrument of the White House, Cross's writing instruments have been used and loved by eminent world leaders across the world. With 21 patents, Cross has stood for innovation, craftsmanship and luxury. Cross leather accessorises are currently being retailed in over 30 countries across the globe and in key travel retail channel. Cross leather accessories are handcrafted in 100% top grain Spanish leather to create impeccable products.