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US lifestyle brand Guess plans to set up Indian subsidiary

14
Aug '18
Courtesy: Guess
Courtesy: Guess
US lifestyle brand and retailer Guess plans to set up an Indian subsidiary to re-launch itself by opening company-owned stores instead of the earlier franchisee-operated stores. The plan is to launch two to three stores immediately, followed by 10 more over the next two years, according to a top company official. The firm has closed all franchisee-run stores.

Along with partnerships with popular e-commerce companies, Guess India will start its own portal, with the initial phase focusing on Tier I cities, Lander Isasi, Guess managing director for Middle East, Southeast Asia, Australia and India told a top Indian business daily.

The decision followed the recent relaxation of foreign direct investment (FDI) norms by India, said Guess CEO Victor Herrero.

In November 2015, India’s Department of Industrial Policy & Promotion (DIPP) eased norms to provide single brand licence holders, i.e., FDI-funded companies allowed to sell products under a single label, multiple retailing options, including own stores, franchisees, wholesale retailing, under one entity. (DS)

Fibre2Fashion News Desk – India


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