Madura Fashion & Lifestyle (MFL) announces a joint venture with Hackett London - the quintessential British men’s luxury clothing and accessories brand. This move comes as part of Hackett continuing its global expansion plan into South East Asia and marks MFL’s first foray into the luxury mono brand business.
The JV will see the opening of two stores this year.
Ashish Dikshit, CEO, Madura Fashion & Lifestyle comments “As part of our international brand strategy, we aim to launch international brands within the Madura F&L portfolio. Working with Hackett London clearly establishes us as a serious luxury player and we plan to grow our share by bringing in more such brands to India from around the globe”
The quintessentially British brand Hackett has been flying the Union Jack high around the world for many years, so it is fitting that in this, a Jubilee year, HM Queen Elizabeth has honoured Hackett with a Queen's Award for Enterprise in International Trade. Hackett’s commercial success has been linked to the export of its very British take on things to countries around the world, which will now extend to India.
Mr Vicente Castellano, Managing Director of Hackett London said, “Hackett London has been expanding rapidly over the last few years as part of our ambition to become a global brand and we were proud to be awarded The Queen’s Award for Enterprise in recognition of this expansion. India, as one of the key growth economies of the world, has been on our radar for some time and now with our recently concluded joint venture with Madura, we have the right partner to tackle India successfully. Madura’s undoubted understanding of the Indian men’s fashion market combined with the appeal of Hackett
London, will enable Hackett to build a strong business in India and bring our 'Essentially British' world to the Indian consumer.”
The first store will open in Emporio Delhi in the second week of September followed immediately by another store opening in UB City, Bangalore. The third store slated for FY13 will open in SS13 in Chandigarh.