Italian Brand Furla to increase its footprint

Considering 51:49 joint venture with Genesis

Italian high-end accessories brand Furla is all set to increase its presence in Indian market through a joint venture deal with Gurgaon based luxury enterprise Genesis. Primarily, Furla is known for offering wide and extensive range of handbags and shoes. At present, Genesis is running two stores of Furla as a franchisee, and looking to open the third one. Speaking on joint venture Eraldo Poletto, CEO Furla said, "We are yet to get a go ahead from the Foreign Investment Promotion Board of India to have a joint venture here. The moment it happens, our investments will be made at a super-fast speed," The overall investment through joint venture is expected 13 crore among which Furla will bring Rs 6.6 crore. Speaking further Furla, said, “Indian market is unique and one has to have a lot of patience to establish a brand in the minds of people and expect financial returns. “