Luxury silk firm expands to UK following support from DIT.
Indian luxury silk firm, Nalli Silks, has opened its first UK store in London with support from the UK’s Department for International Trade (DIT) to meet the demand ahead of the busy wedding and festive season later this year.
The investment of approximately £300,000 will include a 2,500 square feet store in Wembley with up to 8 members of staff. The firm, which previously gifted sarees to King George V and Queen Elizabeth, is expected to open more stores in London and Birmingham to serve UK customers.
With a presence in the US, Singapore and Canada, the firm began searching for opportunities to expand in the UK prior to the Covid-19 outbreak. DIT officials in Chennai and London have been working with Nalli over the past 18 months to help facilitate site visits in the UK, introductions to key accounting and tax services, and updates on Covid-19 related support measures – including the Retail Bounce back announced by Exports Minister Graham Stuart in September.
Minister for Investment Gerry Grimstone said:
Vice Chairman Ramnath Nalli said:
Established in Chennai in 1928, Nalli is a textile brand steeped in tradition. When King George V visited India in 1911, the Indian state of Tamil Nadu gifted the king a hand-crafted Kanchipuram Silk Saree from the company as a souvenir. As this was the year of the King’s coronation, Nalli wove a rich silk saree with a special coronation-themed border to mark the occasion. Similarly, Queen Elizabeth II was gifted with a Nalli Silk saree by the state of Tamil Nadu for her coronation in 1954.
This investment follows a number of positive DIT-supported Indian retail investments into the UK, including Dehli-based heritage occasion wear retailer Frontier Raas, and Mumbai-based luxury fashion house Purple Style Labs.
Trade between the UK and India increased by 10% from the previous year, to £24 billion in 2019. At this year’s Joint Economic Trade Committee, the UK and India agreed to deliver an Enhanced Trade Partnership to deepen this important trade relationship.