Torero Corporation: From Kolkata to the world

A computer science engineer and a management graduate from Indian School of Business, Hyderabad, he had worked in Indonesia, China, Mongolia and Europe, before returning to India to help grow his own family business. Since then Torero has grown from strength to strength and has a young, aggressive team, who have won the admiration of consumers and retailers alike for launching a critically acclaimed cross leather accessories collection, now being sold in more than 40 countries. Besides Cross, Torero has also acquired licenses for Police, Cosmopolitan, Victorio Y Lucchino (V&L), Swarovski IB & Torero. Torero is the only company to have won Red Dot Design Award, often referred to as the Nobel of Design, in succession for Cross Grabado Tech+ Wallet and Cross Origami Collapsible Handbag in 2015 and 2016 respectively. Speaking to Bizz Buzz exclusively, Yashovardhan Gupta, Director and CEO, Kolkata-headquartered Torero Corporation Pvt Ltd, who also advises budding entrepreneurs (and was recently invited to MIT (Massachusetts institute of Technology, Boston) to lecture on Operations for Entrepreneurs), narrates their journey so far and spells out their future plans

You are the global licensee for a number of global luxury brands. How many such global brands do you represent currently?

Torero Corporation, founded and started by my father in 1988, is the fastest-growing brand conglomerate in India, Torero Corporation Pvt Ltd, is the official global licensee for several high-end international brands including Cross, Police, and Swiss Military leather and travel accessories. Additionally, Torero is the biggest supplier of leather accessories to international companies like Hugo Boss and Tommy Hilfiger, to mention a few. Our other brands include V&M, Sliver, #COMMdesFILLES, Hacksafe, Torero, among others. Torero, I would say, is the gateway of global fashion products for India at the lowest possible price.

How has been the journey so far?

It has been a truly fascinating journey so far over the last 35 years or so. We have, over the years, emerged as one of the fastest growing fashion houses in India, marking its excellence in design, development and distribution of shoes, bags and accessories. The associate companies of Torero Corporation are amongst the highest quality manufacturers in the world, working exclusively with some of the biggest global luxury brands. Retails such as Harrods, John Lewis, Shoppers Stop, Takashimaya, El Corte Ingles, Galeria Inno and many more showcase Torero’s products across 40 countries.

But more importantly, true to our vision and mission, we could employ nearly 3500 people at our manufacturing facilities and elsewhere. Moves are afoot to generate 1 lakh employment by 2030. We have been a B2B player since our inception and we are burning midnight oils to establish a strong supply chain mechanism. We are working relentlessly to ensure a maximum of four weeks’ delivery time and eventually bring it down from there.

What is the percentage wise break up of revenues from global licensee business and from your own brands? What will be the scenario like, going forward?

At present, it is more or less evenly poised - 50 per cent of our revenue comes from licensee business and the remaining 50 per cent from our own brands. It is projected (or planned) that going forward, 80 per cent of our revenue would come from licensee business and 20 per cent from our own brands. With this in view, our increasing focus, in the days to come, would be on supply chain automation.

When it comes to product portfolio, what will be your focus, in future?

We would continue to focus on leather goods- travel goods and gifting products. Torero is among the Indian pioneers to step up the accessories game and bring renowned global brands to the Indian consumer’s palette. This move is aimed at testing out the consumer’s knack for diversity as the products are diverse in offering and cover a wide spectrum of tastes; be it rustic or classy or high fashion products.

How is e-commerce doing in these spaces? Would this trend continue, going forward, as well?

Torero is one such company which is gaining maximum traction through e-commerce only. Being the biggest supplier of leather accesories to globally noted brands they are trying to support the distribution and partner ecosystem majorly. Having said that, I must add here that, we have just launched the first retail store of Cross in India, in Mumbai. And we are extremely bullish about that.

You have been dealing with some of the best known global retail outlets and chains such as Harrods, John Lewis, Shoppers Stop, Takashimaya, El Corte Ingles, Galeria Inno and many more showcase Torero’s products across 40 countries. And now you have put up your maiden multi-brand outlets. Could you tell us more about your maiden MBO?

Torero successfully launched its first multi brand outlet in Phoenix Market City, Kurla, and Mumbai on the August 20. Torero is among the Indian pioneers to step up the accessories game and bring renowned global brands to the Indian consumer’s palette. This move aims at testing out the consumer’s knack for diversity as the products are diverse in offering and cover a wide spectrum of tastes; be it rustic or classy or high fashion products. Christened as Brand Boulevard, it has a wide array of global brands like Cross, Police, Cosmopolitan, etc. Brand Boulevard is a unique step aimed at bringing the Indian consumer up to par and then some more with its huge leather accessories product pool. Brand Boulevard is truly a one-stop leather accessories hub.

The latest A.T. Cross’s store in Mumbai will range a wide array of products to offer for every occasion, festival, and celebration. The products are available at an attractive Indian price with an international lifestyle warranty. It will also provide access to the best and most memorable personalized and customized gifts for its patrons. The product offerings range from including gift sets for festivals and other occasions. Additionally, among the traditional gifts which people most likely to buy are the Cross-wallet pen set, Cross annual journal, and planner etc. Cross also offers a full range of men's & women's business accessories, including cross-body bags, pouches, men's bags, belts, duffles, women's totes, and laptop-friendly totes. Whereas women's wallets and other fantastic business tools are famous among new workers, and also have excellent gifts for weddings and throughout the holiday season.

So, what next?

We are looking forward to more such store launches in the near future. With this new store launch in Mumbai, we are to support and serve the whole distribution and partner ecosystem of the A.T. Cross. Additionally, with the upcoming festive season, this store will serve as a hub for an array of gifts and accessories for your dear ones.

How do you propose to back up your expansion or growth plans? Do you have any funds’ raising plans?

We have lined up plans to make our maiden public offering (IPO) some time in 2026. By then we will have at least 2/3 outlets. If things move the way, it has been envisaged, we are set to witness a nearly 3-fold jump in our turnover by then.