INDIA: Mothercare retail JV given green light
The company is targetting 200 Indian stores
Children’s goods retailer Mothercare has been given the go-ahead for its planned retail joint venture in India with local real estate company DLF Brands.
The UK company confirmed that it had received Indian Foreign Investment Promotion Board approval for the new venture, in which it will have a 30% share, with DLF owning the remaining 70%.
Mothercare said last October that it would aim to open a total of 200 stores in India, double its original target of 100.
It will open stand-alone Mothercare stores in DLF shopping malls and other similar locations throughout the country, with the option of increasing its stake in the joint venture to the maximum permitted level of 51% in the future.
The joint venture is in addition to Mothercare’s existing arrangement with local department store retailer Shopper’s Stop.
Shopper’s Stop is set to continue to roll out shop-in-shops within its department stores, adding to the 23 outlets already in existence.
Following hot on the heels of American and European fashion brands, it is now the turn of the Chinese to look at growth in India....
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