DIPP receives eight single brand proposals to open stores in India

The Department of Industrial Policy and Promotion (DIPP) has received eight proposals from global brands including Skechers, Kiko International, Ryohin Keikaku, Nike, Adidas and Swarovski to open stores in India....
DIPP receives eight single brand proposals to open stores in India
The Department of Industrial Policy and Promotion (DIPP) has received eight proposals from global brands including Skechers, Kiko International, Ryohin Keikaku, Nike, Adidas and Swarovski to open stores in India through single-brand retail that allows 100 percent foreign investment in the sector. 
Some applications like that of Nike were earlier rejected since the company wanted to retain existing franchise-run outlets. These were then against the policy framework. In an application in August 2014, Nike expressed its interest in opening company-owned stores while continuing with the 400-plus franchisee outlets. The government had rejected the proposal since the single-brand retail policy did not allow a foreign company to operate a combination of businesses in the country. 
However, on July 7, 2015, the DIPP clarified that a foreign entity will be permitted to undertake single-brand product retail trading in the country for the specific brand through one or more wholly-owned subsidiaries or joint ventures. Last month, its German rival, Adidas, also applied with the DIPP seeking to open own stores, under 100 percent foreign direct investment in single-brand retail, while also retaining its franchise outlets.
 
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