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Mothercare & DLF Brands JV receives approval
25 Feb '10
1 min read
Government of India has sanctioned foreign investment of Rs. 258.7 million of Mothercare, a UK-based retail major in a retail joint venture (JV).
Mothercare which specializes in maternity garments, baby clothes and equipments will have a 30 percent stake in a joint venture with DLF Brands, retail management arm of realty giant DLF.
Mothercare has already commenced two single brand stores in India. Last year it had announced the JV by means of its subsidiary, Mothercare UK.
Up to 51 percent of stake holding for retailing under single brand by foreign firms is allowed under FDI rules of India.
Mothercare has an agreement with Shoppers Stop through which it operates in India and has shop-in-shops at about 24 outlets of the retailer.
Mothercare which specializes in maternity garments, baby clothes and equipments will have a 30 percent stake in a joint venture with DLF Brands, retail management arm of realty giant DLF.
Mothercare has already commenced two single brand stores in India. Last year it had announced the JV by means of its subsidiary, Mothercare UK.
Up to 51 percent of stake holding for retailing under single brand by foreign firms is allowed under FDI rules of India.
Mothercare has an agreement with Shoppers Stop through which it operates in India and has shop-in-shops at about 24 outlets of the retailer.
Fibre2fashion News Desk - India
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