DLF May Purchase Ferragamo Franchise
The Italian brand’s authentic franchise partner, Sports activities Station India, has decided to exit the enterprise and as a substitute concentrate on premium brands corresponding to Levi’s and Dockers.
Sources close to the event confirmed that the franchise rights have been being purchased for approximately $three million.
There is only one Ferragamo retailer in India in Mumbai, ferragamo vs gucci which opened in March 2006. Ferragamo is most well-known for its hand-made leather-based shoes, moreover its range of accessories such as handbags, males’s ties and now even apparel.
It isn’t clear whether or not the franchise rights are being purchased by DLF or by the promoters. Sources say Pia Singh, the daughter of DLF promoter Ok P Singh, and her husband Timmy Sarna have been wanting to bring luxury manufacturers to India at an individual stage.
Pia Singh couldn’t be contacted and DLF’s spokesperson declined touch upon the matter.
Ok P Singh had earlier told Enterprise Customary that DLF was trying to companion international luxurious brands – both via equity stakes or via the franchise route.
DLF is presently growing the Emporio mall in the capital, which can be a one-cease store for all kinds of luxurious brands such as Armani, Versace, Louis Vuitton, Christian Dior, Dolce & Gabbana, Escada and Cartier. Sources mentioned DLF was also planning to develop another Emporio mall in Mumbai.