Prada Franchise

Franchise News India, Franchise In India,While a team from Italian luxury brand Prada’s Hong Kong office was in India sometime back to identify retail locations to open brand stores in the country, the company is said to be awaiting clarity over single-brand retail FDI rules before making a formal announcement. The company is expected to open stores without partnering with a local entity.

Not only Prada but several other foreign brands – new as well as existing ones are waiting to go solo in the country after the previous UPA government opened the single-brand retail market for up to 100 percent investment. However, the major concerns for them remained to be the mandatory 30 percent local sourcing for 100 per cent FDI in retail and high import duties.

Some like Swarovski, which operates through franchisees, has applied for a 100 percent unit in India. Italian bag seller Furla has also applied for a joint venture with Genesis Luxury that has already brought many foreign luxury labels like Jimmy Choo, Armani and Bottega Veneta among others to India.

Prada also owns labels such as women’s luxury fashion brand Miu Miu and men’s footwear brands Church’s and Car Shoe. The company has operations in 70 countries through directly operated stores, franchise stores, and a network of high-end multi-brand stores and luxury department stores.



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