Home / Knowledge / News / Apparel/Garments / Denmark's Bestseller applies for FDI in Jack & Jones
Denmark's Bestseller applies for FDI in Jack & Jones
01
Feb '14
Denmark-based apparel brand Bestseller has applied to India’s Department of Industrial Policy and Promotion (DIPP) to bring foreign direct investment (FDI) into its casual wear brand Jack & Jones, reports Business Standard.
 
The proposal to the DIPP has been forwarded by United India Comforts, the Indian arm of Bestseller, under the single-brand retail segment, in which India permits up to 100 percent FDI.
 
Bestseller is in India for the last four years through franchisee agreement with a local firm, and it is reported that the company is in the process of ending its agreement.
 
Besides Jack & Jones, Bestseller also runs two other brand—Vero Moda and Only—in India.
 
Jack & Jones has presence in India through about 50 exclusive brand outlets (EBOs) and 100 shop-in-shops. It has a formidable global presence with about 1,000 stores spread across 38 countries. Its products are also sold in nearly 12,000 multi-brand outlets (MBOs) and department stores, globally.
 
Since the Government of India opened the single-brand retail sector for 100 percent FDI in 2011, it has cleared proposals of several global brands, including the application of Swedish home textiles and furnishings retailer IKEA and apparel retailer H&M.
 
Bestseller Retail India’s sales nearly doubled to Rs. 2.35 billion in fiscal year 2012-13.
 

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search