After Hermès, another high profile luxury brand is set to enter the country through the single brand retail route. Christian Dior Couture has just received clearance from the Foreign Investment Promotion Board (FIPB) to invest 51 per cent in an Indian company to retail goods under the Dior brand name.
Dior, which is owned by LVMH Moet Hennessey Louis Vuitton, had been operating through a franchisee deal in India uptil now. It will now operate through a subsidiary company and invest $2,70,500 to set up single brand outlets here.
When contacted, Kalyani Chawla, the brand ambassador and spokesperson of CDC in India, said, "The entire plan is still in a nascent stage. We are discussing issues, and will be able to make an announcement within the next few weeks."
Source: Moneycontrol.com
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