Closing stages of DLF luxury biz
Salvatore Ferragamo alliance to come to an end, focus turning to premium fashion brands.May 02, 2012 | comments ( 0 ) |
After Giorgio Armani, it’s Salvatore Ferragamo. DLF which ended its joint venture with Giorgio Armani a few days back is now ending ties with Salvatore Ferragamo as well. The moving out of Salvatore Ferragamo is a step towards the end of the luxury brands business for DLF. Believing luxury to be a futuristic business, they are initiating this move. Turning away from the luxury biz, they will be now centering their focus to premium and bridge-to-luxury fashion brands,, which is more profitable and scalable.
DLF Brands currently operates 120 stores for its brands and they plan to take the number to 500 in the next three to four years. While it is a no-no to invest in any luxury brand making way in to India, they are however open to offer assistance with respect to real estate and supply chain.
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