India receives 12 proposals for single-brand retail stores

0
210

New Delhi, Calvin Klein and FCUK are just two of the ten brands still waiting for the government’s nod to set shop in the country. In less than three months this calendar, India received 12 proposals from six foreign investors to enter single-brand product retailing, of which two have been cleared. Other brands in the wings include clothing and accessories majors French Connection and La Perla, besides Jimmy Choo shoes.

Barring the application of Grotto of Italy, seeking 50% equity participation for retail trading of the GAS fashion brand, all proposals are for 51% equity.

While seven waiting proposals are from Mauritius-based companies, one is from China—Wah Luen, seeking permission to launch the CT Brand of electronic goods and tools.

Mauritius-based Brand Marketing Pvt Ltd and Retail India Ltd have applied for retail trading of FCUK, French Connection, Jimmy Choo, La Perla, Build Bear toys and Tumi Brand luggage. Another waiting proposal is that of Sin Rong Pvt Ltd for trading under the VI-GA footwear brand.

Of the two cleared proposals received this year, one is France’s Socomec SA for 50% equity participation in UPS systems trading and the other is a proposal from Fabindia for 51%. In 2006, the government approved eight single-brand proposals.

LEAVE A REPLY