Denim major Levi Strauss & Co has sought the government's permission for converting its existing local wholesale entities into retail. It joins a list of foreign brands that want to capitalise on policy liberalisation in India.
The website of the Department of Industrial Policy and Promotion (DIPP), the nodal agency for foreign direct investment in India, shows that the American company filed an application on April 11, seeking approval for its existing wholesale entities to engage in direct retailing and e-commerce.Denim major Levi Strauss & Co has sought the government's permission for converting its existing local wholesale entities into retail. It joins a#
Levi Strauss is the latest foreign company to seek permission for direct retailing and e-commerce. Apparel and casual wear brands that had applied ahead of Levis Strauss include Pepe Jeans, Adidas and Puma. Pepe is looking at setting up large format, company-owned stores, while Puma plans to operate its own e-commerce portal.
In November 2015, the government relaxed the rules for FDI in retail, permitting manufacturers to sell their products through wholesale, retail and e-commerce channel as well. (SH)
ALCHEMPro News Desk – India
marketing@alchempro.com
