World’s leading lifestyle retailer Armani has agreed to join hands with India’s leading Realtor – DLF. Giorgio Armani will hold 51% stake in the venture. It is unbelievable that world class retailers are bowing down in India to Realtors because of the exuberant retail rentals at malls.
The JV will undertake the sale of several world class brands such as Emporio Armani, Armani Jeans, Armani Junior and Armani Collezioni. The first two stores will come in DLF’s Emporio Mall at Delhi. The JV will focus on retailing footwear, handbags, luggage, watches, phones, perfumes, eye wear, sports gear and other accessories.
Apart from establishing its own stores Armani also has given nod to other master franchisees to retail at Luxury malls in India.