Italian luxury clothing and accessories brand Versace 19.69 Abbigliamento Sportivo has entered India through an exclusive partnership with Magenta Fashions, an apparel and leather exporter.

Abbigliamento Sportivo was founded by Allessandro Versace in 2001.

Under the MoU, Versace 19.69 Italia SRL has agreed to grant a license of the trade name and trademarks to Magenta Fashions, to manufacture and market on its behalf of and in the name of Versace 19.69 Abbigliamento Sportivo, Milano Italy.

The brand is set to offer products under categories that include apparel, footwear, accessories, jewellery, eyewear, cosmetics and home furnishings,” the company said.

Theofanis Papadas, CEO, Versace 19.69 Italia S.R.L., said, “India is a very important luxury market for us. We are here to bridge the luxury and affordability gap for Indian fashion aficionados.”

Ravi Shankar Rao, Managing Director & Partner, Magenta Fashions-India, said his company would be entitled to manufacture whether by itself or through any third party appointed by Magenta Fashions, on behalf and in the name of the Versace 19.69 and market and sell the products using the trade name and trademark through various marketing formats, including sourcing, outsourcing, franchising and similar arrangements.

The company shall also be entitled to source from/through Versace 19.69 or its licensees worldwide, import to India and market in India through the stores set up by Magenta Fashions directly or through franchisees, any other products, not included in the agreement, manufactured and marketed directly or indirectly by the Italian firm/its licensees using the trade name and trademarks,” Rao added.

The first phase of the India launch will see the introduction of eyewear and jewellery, followed by the entire product range by this year-end.

Magenta Fashions will roll out around 70 stores across India over two years.

Bindu.menon@thehindu.co.in

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