India's Largest Database on New Projects
Burberry to expand in India
27 November 2009: UK retailer Burberry and Genesis Group are likely to form a JV for retail operations in India in which Burberry will hold 51 per cent stake and the Genesis Group 49 per cent.
Burberry has sought FIPB approval for FDI of up to 51 per cent for retail trade of Burberry branded products. Burberry has said it will invest £2.1 million through subscription to equity shares issued by the JV company.
The JV is likely to undertake retail trading of products like rainwear, formal, semi formal and leisurewear, coats, jackets, overcoats, suits for men, trouser suits and skirts and jackets combinations for women and children.
Source: Financial Chronicle