US clothing retail chain Forever 21 is planning to expand in the Indian market, with a new partner DLF brands and an initial investment of US$ 50 million.
The American clothing retailer, which already has seven retail outlets in Delhi and Mumbai, is now planning to open around 40 to 50 outlets across the country over the next five years.
Under the new partnership, DLF brands, which is a subsidiary of Indian real estate giant DLF, would hold majority stake of 51 percent, whereas Forever 21 would have the remaining 49 percent.
The Los-Angeles based brand is aiming to open at least six to ten stores per annum, where the store size would vary between 8,000 and 20,000 sq ft, according to a Hindustan Times report.
DLF Brands also has joint ventures or long-term franchise deals with international brands such as Mothercare, Boggi, Ferragamo and DKNY and operates 150 single-brand stores.
Source:
http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=148875
