INDIA: Madura Fashion in retail JV with Hackett London
British Clothing brand Hackett London is set to enter India through a joint venture with Aditya Birla Nuvo-owned Madura Fashion & Lifestyle (MFL).
The agreement will initially see three stores open, the first of which will be in Delhi followed by another store in Bangalore. The third store is expected to open next year in Chandigarh.
"India, as one of the key growth economies of the world, has been on our radar for some time and now with our recently concluded joint venture with Madura, we have the right partner to tackle India successfully," said Hackett MD, Vicente Castellano.
Meanwhile, MFL chief executive officer Ashish Dikshit added: "As part of our international brand strategy, we aim to launch select international brands within the Madura F&L portfolio.
"Our partnership with Hackett London clearly establishes our intent and we plan to bring in few more brands to India from around the globe."
MFL, which has more than 1,000 exclusive and franchise stores, recorded sales of INR21.45bn (US$388.3m) in 2011. Its brand portfolio includes Louis Philippe, Van Heusen, Allen Solly and Peter England.
Apparel company PVH Corp has outlined further growth opportunities for its Tommy Hilfiger and Calvin Klein apparel businesses following its acquisition of The Warnaco Group last year....
As part of plans to extend the potential of its Izod brand, PVH Corp has inked a license agreement with USPA Accessories to market and distribute men's and boys' non-knit headwear for the line....
- Nike reaffirms US production commitment
- Levi Strauss raises the bar on sustainability
- Gap and H&M back Myanmar path to labour reform
- H&M faces margin pressure on dollar impact
- Can the Gap brand reclaim its iconic status?
- Myanmar minimum wage set at US$3.2 per day
- Far Eastern to invest $323m in Vietnam textile hub
- Fast Retailing supplier continues strike talks
- China cotton stockpile auction may shake up market
- Over 8,000 children in Delhi garment industry
- Global market review of lingerie - forecasts to 2020
- World Textile and Apparel Trade and Production Trends: The EU - May 2015
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Myanmar's Garment Sector - Opportunities & Challenges in 2015