Business Daily from THE HINDU group of publications
Wednesday, Dec 05, 2007
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Business Daily from THE HINDU group of publications Wednesday, Dec 05, 2007 ePaper | Mobile/PDA Version |
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Foreign Direct Investment Marketing - Retailing Corporate - Alliances & Joint Ventures Dolce & Gabbana’s venture with DLF gets nod
DLF will be providing the real estate infrastructure Two retail outlets in Mumbai & New Delhi to be operational by early 2008 Bindu D Menon New Delhi, Dec.4 Italian fashion brand Dolce & Gabbana’s (D&G) plan to enter India has got a shot in the arm with the Foreign Investment Promotion Board approving its single brand retailing joint venture with real estate major DLF. The 51:49 per cent joint venture will see the garment major set up several retail outlets across the country. Confirming Government approval, Mr Ramesh Sanka, DLF CFO told Business Line, “DLF will be providing the necessary real estate infrastructure for the project to take off smoothly.” However, he declined to divulge the investment details. Initially, two retail outlets will be set up in Mumbai and New Delhi. “This will be scaled up over a period of time,” he said, adding that the two outlets are expected to be operational by early next year. Revenue sharingOn the revenue sharing arrangement, he said, “the modalities are yet to be worked out. No action plan has yet been formulated.” According to sources, Dolce & Gabbana is planning to introduce its products under the brand names, Dolce & Gabbana and D&G Dolce & Gabbana. The luxury brand major will carry out merchandising and day-to-day functions in the venture. D&G is probably the first international company proposing to launch more than one brand under one joint venture. The high-end fashion brand has an extensive line of products including garments, watches and perfumes. DLF’s retail venture is being headed by Ms Pia Singh. More Stories on : Foreign Direct Investment | Retailing | Alliances & Joint Ventures | Real Estate & Construction
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