Swedish fashion retailer Hennes and Mauritz (H&M) has already debuted in India with opening of two retail outlets in New Delhi this year, while German sportswear maker Adidas is expected to soon set up its retail stores.
Gas Jeans, which offers apparel for the young crowd under its GAS brand, already operates 65 stores in the country, all through the franchise route.
The Italian company's latest step follows changes made by the Government of India in its foreign direct investment (FDI) policy for single-brand retail in India, which includes allowing the foreign single-brand retailers to sell online.
The government has also changed the sourcing norm or 30 per cent of the value of goods purchased, which will now be reckoned from the opening of first store instead of the date of receipt of FDI. (RKS)
Fibre2Fashion News Desk – India
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