Govt receives 12 proposals for single-brand retail stores
27 Mar '07
2 min read
NEW DELHI:
Calvin Klein and FCUK are amongst ten brands which are still awaiting Government's consent to set shop in country.
Within three months, India has received 12 proposals from six foreign investors for permission to enter single-brand product retailing, of which two have already been cleared.
Clothing and accessories majors French Connection and La Perla, besides Jimmy Choo shoes are the other brands in waiting.
All proposals have been received for 51 percent equity, except Grotto of Italy which seeking 50 percent equity participation for retail trading of GAS fashion brand.
While seven waiting proposals are from Mauritius-based companies have put up seven proposals of which, one from China—Wah Luen seeks to launch CT Brand of electronic goods and tools. Another waiting proposal is that of Sin Rong Pvt Ltd for trading under the VI-GA footwear brand.
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.
Of the two cleared proposals received this year, one is Proposals from France's Socomec SA for 50 percent equity participation in UPS systems trading and Fabindia's for 51 percent have been cleared.
Government had approved eight single-brand proposals in the year 2006.
marketing@alchempro.com
