DLF Could Purchase Ferragamo Franchise
May 10, 2018
The Italian model’s original franchise accomplice, Sports Station India, has decided to exit the business and as a substitute focus on premium brands corresponding to Levi’s and Dockers.
Sources near the development confirmed that the franchise rights were being bought for approximately $3 million.
There is only one Ferragamo retailer in India in Mumbai, which opened in March 2006. If you loved this post and you wish to receive more details with regards to Platåskor assure visit our web-page. Ferragamo is most famous for its hand-made leather-based sneakers, besides its vary of accessories comparable to handbags, men’s ties and now even apparel.
It’s not clear whether the franchise rights are being purchased by DLF or by the promoters. Sources say Pia Singh, the daughter of DLF promoter K P Singh, and her husband Timmy Sarna have been desirous to carry luxury brands to India at an individual level.
Pia Singh could not be contacted and DLF’s spokesperson declined comment on the matter.
Okay P Singh had earlier advised Enterprise Standard that DLF was seeking to partner world luxury brands – both via equity stakes or through the franchise route.
DLF is at present creating the Emporio mall within the capital, which will be a one-cease shop for all sorts of luxury brands such as Armani, Versace, Louis Vuitton, Christian Dior, Dolce & Gabbana, Escada and Cartier. Sources mentioned DLF was additionally planning to develop one other Emporio mall in Mumbai.