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....
- Why have US FTA imports fallen to a record low?
- Hanesbrands sourcing to cut Pacific Brands costs
- Collaboration key to the future of smart textiles
- First figures show Bangladesh exports climb
- Synergies Worldwide CEO unravels sourcing shifts
- Li & Fung divests Asia distribution business
- US looks to boost trade with Sri Lanka
- US Q1 in brief: Wolverine Worldwide, Weyco
- Vietnam textile sector calls for strategy update
- Lindex planning supplier sustainability scorecard