Vero Moda, Jack & Jones owner may set up multi-brand outlet in India

Denmark-based fashion houseBestseller- the owners of Jack & Jones andVero Moda- may soon open its own store in India. According to a report in The__Economic Times , the fashion house is likely to apply for entry into India’s multi-brand retail segment.

Bestseller now sells its brands in India through franchisee partner Bombay Rayon Fashion.

Earlier reports said Bestseller was planning tosnap its four-year-old franchisee ties with its Indian partner businessmanPrashant Aggarwalamid differences over the way its marqueebrands were handled in the country.

[caption id=“attachment_1326331” align=“alignright” width=“380”] Reuters[/caption]

However, the ET report says that the Denmark-based retailerwill be setting up the store withPrashant Agarwal, managing director of Bombay Rayon.

According to the DIPP website, Bestseller has already filed a proposal to invest in the country’s single-brand retail segment with Agarwal.In the proposed venture, Bestseller will hold the permissible 51 percent stake while the rest will be held by Agarwal, the report noted.

Recently, enthused by Tesco’s plan to enter the Indian supermarket segment, Commerce and Industry Minister Anand Sharma had said that another ‘European major’ will be applying for the multi-brand retail sector.

If Bestseller gets the permission to set up multi-brand retail, all the three brands - Jack & Jones, Vero Moda and Only - would be sold under one roof in India.