Home breadcru News breadcru Company breadcru Lee Cooper may go for JV with Pantaloon group

Lee Cooper may go for JV with Pantaloon group

21 Mar '06
2 min read

UK's well-known brand, Lee Cooper has planned to enter into a joint venture (JV) with one of the arms of the Pantaloon group.

Lee Cooper and a Pantaloon company plan to float a 50:50 JV to set up exclusive stores to retail entire product range from footwear and apparel to accessories.

It is learnt that lifestyle apparel company Indus-League Clothing in which Biyani holds 68 percent stake may be the company to enter into a JV with Lee Cooper.

Lee Cooper has already gone ahead and terminated the licensing agreement with Indus Clothing for the domestic market.

The Centre recently allowed 51 percent FDI in single brand retailing as part of the gradual opening up of the retail sector to foreign investment.

Global brands like Gap, Tesco, Sara Lee and Banana Republic were expected to take advantage of the changed scenario in the near future.

Government's policy of allowing single brand FDI may not be lucrative enough for global brands interested in Indian operation to take the equity route, is felt by certain market segments.

Hence, Lee Cooper's initiative may turn out to be important to become the precursor for FDI's.

Lee Cooper operates about 450 stores in 70 countries across the world.

Meanwhile Pantaloons' Indus-League has announced plans to collaborate with some international brands through licensing or JV route.

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