Textiles firm S Kumars Nationwide is close to forming a joint venture with global fashion accessories firm DKNY, the Economic Times said on Monday, citing a person close to the development.
Both firms are in final stages of discussion and an announcement is expected in a fortnight, the paper said, citing the source.
S Kumars is likely to pick up the majority stake in the JV which will procure textiles worth over $250 mill
ion from it.
The joint venture, which will have the right to appoint all future franchisees of DKNY, could lead to the entry of DKNY stores in India, the report added.
DKNY is a brand owned by the French luxury firm Louis Vuitton. S Kumars will become the sole supplier to over 70 DKNY stores globally, if the deal goes through, the paper said.
Officials at S Kumars were not immediately available for comments.
In February, S Kumars group firm Brandhouse Retail formed a joint venture with Italian apparel brand Oviesse.
source : in.news.yahoo.com/137/20090323/744/tbs-s-kumars-in-talks-for-jv-with-dkny-p.html
Both firms are in final stages of discussion and an announcement is expected in a fortnight, the paper said, citing the source.
S Kumars is likely to pick up the majority stake in the JV which will procure textiles worth over $250 mill
ion from it.The joint venture, which will have the right to appoint all future franchisees of DKNY, could lead to the entry of DKNY stores in India, the report added.
DKNY is a brand owned by the French luxury firm Louis Vuitton. S Kumars will become the sole supplier to over 70 DKNY stores globally, if the deal goes through, the paper said.
Officials at S Kumars were not immediately available for comments.
In February, S Kumars group firm Brandhouse Retail formed a joint venture with Italian apparel brand Oviesse.
source : in.news.yahoo.com/137/20090323/744/tbs-s-kumars-in-talks-for-jv-with-dkny-p.html
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