India’s largest Realty company, DLF is all set to sign a fracnhisee deal with Italy’s Luxottica to establish Sunglass Hut stores in India. SunGlass hut globally retails brands such as Oakley, Chanel, Dolce & Gabbana, Donna Karan, Prada, Versace etc.
DLF plans to open 100 SunGlass Hut stores across India over the next 5 years. The first store will come up in Delhi within a month said sources in DLF. Luxottica has been in India by the purchase of Baush & Lomb. However, DLF will noe takeover the the entire sales and retail distribution business in a 7 year agreement it has reached with Luxottica.
Congratulations to DLF over the Luxottica deal as it was desperately looking to join hands with foreign retailer and in the past Reliance Retail had pipped most of its ambitions.