Italian apparel maker Diesel forms joint venture with Arvind Mills

15 May 2007

1


Mumbai: Italian apparel maker Diesel has agreed to set up a joint venture company with Arvind Mills Ltd and set up a retail chain of 15 exclusive stores in India in the next three years, reports quoting Arvind Mill CEO Darshan Mehta said.

The two companies, he said, have formed a joint venture - Diesel India Fashion Arvind Pvt Ltd, adding that the Diesel brand enjoys huge demand from the high-end fashion lovers, He said the joint venture company would open 15 exclusive Diesel stores in cities such as Mumbai, Delhi, Bangalore,Chennai, Chandigarh and Hyderabad in the next three years.

The first two would come up by October this year, one each in Delhi and Mumbai, he said.

The products would be sourced from Italy or other places where Diesel has manufacturing facilities.

Diesel would hold a majority 51 per cent stake in the joint venture. India allows 51 per cent foreign direct investment in single brand retail, which is the route adopted by Diesel.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers