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....
- Under Armour defends questions over strategy
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Combating the new normal – 10 trends for 2016
- Who has pledged to ban the use of angora?
- Bangladesh factory fire renews worker safety fears
- Syrian refugee children found in Turkish factories
- China factory activity continues to deteriorate
- Key Bangladesh safety issues still not fixed
- Southeast Asia – a strategic sourcing review
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024