Gas Jeans gets approval to open single retail brand stores in India

Gas Jeans has got the approval to open its own single-retail brands stores across the country by Department of Industrial Policy and Promotion (DIPP).
Gas Jeans

Italy’s premium apparel and denim brand owned by Grotto family has got the approval to open its own single-retail brands stores across the country by Department of Industrial Policy and Promotion (DIPP).
The move has come after Swedish fashion retailer Hennes and Mauritz (H&M) had debuted in India with opening of two retail outlets in New Delhi this year and the German sportswear maker Adidas is expected to soon set up its retail stores.
Gas Jeans, which offers apparel for the young crowd under its GAS brand, already operates 65 stores in the country, all through the franchise route.
The Italian company's latest step follows changes made by the Government of India in its foreign direct investment (FDI) policy for single-brand retail in India, which includes allowing the foreign single-brand retailers to sell online.
The government has also changed the sourcing norm or 30 per cent of the value of goods purchased, which will now be reckoned from the opening of first store instead of the date of receipt of FDI.

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