Ultra-premium French luxury brand Fendi is soon coming to India. It is setting up a 51:49 JV with Fun Fashion India (FFI) a Mumbai based fashion house of Choradia Fashions. The JV would retail its global range, including fur products, through a chain of outlets spread across the country reports the Economic Times.
The Louis Vuitton and Moet Henessey (LVMH) Group, which owns Fendi, is planning to invest about Euro 5 mn. in India over the next five years. Initially, Fendi products would be sold under the trademarks like Fendi, V, FF, FF Fendi and registered designs like Janus and Squirrel through an outlet in Mumbai. LMVH will also sell ready to wear products, watches, accessories, jewellery and shoes.
The luxury brands that have obtained green signal from FIPB so far include Louis Vuitton, United Colours of Bennetton and Nike shoes, while a number of luxury brands like Hugo Boss and Mont Blanc have set up shop in India through the franchisee route.
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