INDIA: Tommy Hilfiger plans 500 stores for India?
Tommy Hilfiger plans to open some 500 stores in India over the next five years through its joint venture partnership with Arvind Ltd, according to reports.
A significant number of the stores will be opened through franchise agreements, the Economic Times reported, citing documents the brand filed with the country's Department of Industrial Policy and Promotion.
In September last year, Tommy Hilfiger bought a 50% stake in Tommy Hilfiger Arvind Fashion Pvt Ltd, the joint venture that represents its products in the country, buying out former stakeholder the Murjani Group.
It currently operates 58 franchise outlets and over 60 department store concessions. The expansion will see it operate some 631 points of sale by 2016/17.
Both partners will invest INR150m each, while a further INR300m will come from the company's internal accounts, The Economic Times reported.
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