The Hindu Business Line : Italian brand Diesel ties up with Arvind Mills

Bangalore May 15 Diesel is in India. The Italian luxury denim and casual fashion brand has entered into a joint venture agreement with Arvind Mills to create a new company called Diesel India Fashion Arvind Pvt Ltd.

It will be a 51:49 joint venture with Diesel having the larger stake. According to Mr Renzo Rosso, President and founder of Diesel: "India is a most incredible country in terms of economic growth and for the fast development of its fashion market."

The joint venture company will set up two flagship stores in New Delhi and Mumbai by the end of this year. It hopes to open 15 stores in three years in cities such as Hyderabad, Chennai and Chandigarh. They will be a combination of large flagship stores (5,000 sq feet) and smaller ones (3,000-3,500 sq ft). The stores will sell all product lines of Diesel — jeans and other casual apparel for men and women, bags, women's lingerie, innerwear for men, watches, jewellery, shoes and glares. The pricing will be the same as in international markets. A pair of jeans will cost about Rs 8,000.

Mr Darshan Mehta, President, Arvind Brands, said: "It is a prestige to be associated with the god of denim fashion. The fact that they signed a joint venture with us shows that they see India as a long-term destination. We want to bring in authentic original Diesel products from wherever it is made in the world — most of it is made in Italy — to Indian consumers in stores that are as attractive and exciting as they are in the world."

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