Friday, October 27, 2006

Fendi to set up stores in India

The Economic Times reports that French luxury retailer Fendi, a subsidiary of the Louis Vuitoon and Moet Henessey (LVMH) Group will be opening stores in India, under the government’s ruling of allowing FDI in single brand retailing. The company has tied up with Fun Fashion India (FFI) who will have a 49% stake in the venture.

LVMH plans to invest Euro 5 million over the next five years in India and will first study the market to see which products will be manufactured and exported from India. Initially, Fendi will sell products under the Fendi, V, FF, FF Fendi in its Mumbai outlet.

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