DLF Brands to form JV with Kiko
Plans to have 50 stores over the next five years.January 27, 2014 | comments ( 0 ) |
DLF Brands is all set to join hands with Italian cosmetic brand Kiko by next month. Kiko will own 51 percent stake in the business, while the rest will be with DLF Brands. Moreover, DLF brand has recently signed an agreement with French retailer Sephora to retail its beauty products.
“The company is looking at annual revenue of Rs 500-600 crore from both brands,” said DLF Brands' Chief Executive Deepak Agarwal.
Owned by the Percassi group of Italy, Kiko is retailed over 35 countries. The company plans to open six or seven stores spread across 700-1,000 sq ft every year and have a total of 50 stores in the next five years. The company plans to invest Rs 60-70 crore to fuel up the Indian operations.
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