Natuzzi to open 70 franchised stores by 2012

Natuzzi Group, an Italian leather upholstery player is planning to 70 outlets for Natuzzi and Italsofa brands in India by 2012. These outlets will be opened via franchise route in cities like Hyderabad, Bengaluru, Chennai, and Kerala. The company is also opening its flagship stores in Delhi and Mumbai in July 2010.

Natuzzi will be importing finished products to India and will market through stores across the country. Prices for Natuzzi brand of five-seater range from Rs 3.5 lakh to Rs 7 lakh and a five-seater Italsofa costs between Rs 1.6 lakh to Rs 3.5 lakh. Presently the company does not have any plans to open a manufacturing unit in India.

The New York Stock Exchange listed company has presence in around 120 countries across the globe. It is bringing its entire portfolio of products in the living space and dining segments to India.

The company has earmarked 10-12 per cent of its turnover from India for marketing spends and building brand awareness.