"To set up, you need local support from a consultancy firm": Romain Lacroix, Maped

Romain Lacroix - Maped India has been officially based in Bombay since 2011, but our products had been distributed in India since 2003 by a local agent. Bombay is the country's economic capital, so any distribution company must have a sales office there.

 

 R. L. - India enjoys a growth rate of 7 to 8 % per year, while inflation varies between 10 and 15 % depending on the products concerned. What is a niche market today will become a mainstream product tomorrow. Hence the influx of foreign capital. The example of Hermès, which has just set up in Bombay, makes me confident that niche products will be successful in the future.

 

R. L. - Firstly, to be assisted locally by a consultancy firm and to select a candidate with legal, commercial and financial skills during the company formation phase. The main difficulties arise from the administrative burden: long and arduous incorporation documents, highly regulated calls for capital, transfer pricing issues, etc. More generally, the procedures are numerous and need to be adapted. More generally, there are a great many procedures that must be followed. You have to be patient... which is well worth it, as Mumbai is the gateway to a market of over 1.2 billion people.