Pantaloon Retail, India's largest listed retailer, today announced the setting up of a 50:50 joint venture with UK-based shoe manufacturer C & J Clark International.
The joint venture would also engage in wholesaling of Clark's branded footwear and associated products in India, Pantaloon Retail said in a statement.
C & J Clark is one of the largest makers of casual shoes in the world, manufacturing brands like Clarks, Bostonian, and K Shoes for men, women, and children.
Pantaloon Retail (India) Limited, a part of the Future Group, operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Based in Mumbai, the company has over 1,000 stores across 71 cities in India and employs over 30,000 people, and as of 2010. It is also the country's largest listed retailer by market capitalisation and revenue.
The company has separated its discount store business, which includes the Big Bazaar hypermarket and the Food Bazaar supermarket businesses, into Future Value Retail Ltd, its wholly-owned subsidiary, so as to independently list the company.
The company's brands include Pantaloons, a chain of fashion outlets, Big Bazaar, a hypermarket chain and Food Bazaar, a supermarket chain. Some of the company's other regional brands include, Depot, Shoe Factory, Brand Factory, Blue Sky, all, Top 10 and Star and Sitara.