Business Daily from THE HINDU group of publications
Wednesday, Sep 19, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Sep 19, 2007 ePaper |
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Marketing
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Strategy Corporate - Alliances & Joint Ventures Trent, Benetton join hands for strategic partnership 
New clothesline: Mr Noel Tata, Managing Director, Trent Ltd, with Mr Alessandro Benetton, Executive Deputy Chairman, Benetton Group, at a press conference in Mumbai on Tuesday. Trent and Benetton have formed a partnership under which Trent will sell the Sisley brand of clothing through a franchisee route. Our Bureau Mumbai, Sept. 18 Tata Group retail company Trent Ltd has been appointed as the master franchise for the Benetton Group’s Sisley brand in India for a period of five years. A strategic partnership has been forged between Benetton and Trent, whereby the latter will manage and operate the three existing Sisley stores, apart from setting up an additional 20-30 stores in the eight major cities across the country. Mr Noel Tata, Managing Director of Trent, said: “Through this partnership, we will get an opportunity to participate in the growing premium market. We will be investing Rs 40-50 crore in the next five years.” Adding global brandsHe added: “We are planning to add 2-3 international brands as the premium end of the market is governed by international trends.” Mr Alessandro Benetton, Executive Deputy Chairman of the Benetton Group, said: “Working with Trent will allow us to accelerate Sisley’s development in India.” Sisley has been present in the Indian market for almost a year. Targeting the ‘sophisticated luxury-oriented’ consumers in India, Sisley would not compromise on prices for the Indian market and would continue to attract steep import duties. More Stories on : Strategy | Alliances & Joint Ventures | Readymade Garments
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