CHENNAI: Amid the Coronavirus pandemic, Nalli Silks has expanded its global footprint by venturing into the UK market. Nalli has set up its first store in London with an investment of around 300,000 British pounds to meet demand ahead of a busy wedding and festive season.
The store sprawling over 2,500 square feet has come up in Wembley, which has a large Indian diaspora population. The textile brand is quite bullish about the UK market and has plans to set up a second store in Birmingham soon.
“Our South Asian customers living in the UK are some of our most vocal and passionate patrons. We have been receiving customers from the UK for many years and even receiving social media requests from non-Indian brides asking advice on saris,” said Nalli Silks Vice-Chairman Ramnath Nalli. He added that hand-selected pieces at the best price will be made available to cater to the UK market.
Vice-chairperson of the company, Lavanya Nalli, said with the London store the total number of their overseas stores has reached six. “We have done proper research before venturing into the UK market and we are quite confident about our success,” said Lavanya. The company already has its presence in USA, Singapore, and Canada.
UK's Department for International Trade (DIT) in Chennai and London has been working with Nalli over the past 18 months to help facilitate site visits in the UK, introductions to key accounting, and tax services.
“As both the Indian and UK economies recover from the impact of COVID-19, increasing investment in each other's markets is more important than ever. Brands like Nalli Silk are sterling examples of the opportunities available to Indian businesses if they wish to sell high-quality goods to a strong base of customers in the UK, including an Indian diaspora of 1.5 million people,” said UK Minister for investment, Gerry Grimstone.
Oliver Ballhatchet, British Deputy High Commissioner to Chennai, has expressed that they will continue to work with Tamil Nadu-based investors for their expansion in the UK market. “The UK and India have been the top five investors in each other’s economies since 2010. Our team will extend all cooperation to Tamil Nadu-based investors like Nalli, who have shown immense faith in the UK market for their international expansion. The UK will remain open to investors.”