Now, DKNY Likely to Bid Adieu to India
Rasul Bailay & Anumeha Chaturvedi
New Delhi: American premium fashion brand DKNY has become the latest on a list of global brands that have failed to crack the Indian market and decided to move out. Several mall executives and DKNY store managers ET spoke to confirmed the development, though the head of its India franchisee, DLF Brands, denied the company was completely exiting the country.
“DKNY is packing and exiting India,” said a top executive of a mall in New Delhi, where the brand closed its store recently. Timmy Sarna, head of DLF Brands, said the company has closed “a few” stores but will continue to operate four outlets — all in DLF-owned malls in the National Capital Region. “We are continuing with four stores and have shut two loss-making stores. There was one in Kolkata and one in Mumbai which we shut,” he said. However, the DKNY outlet in DLF’s Mall of India in Noida – among the ones which Sarna said will continue to operate – is closing, according to sources. Same is the case with DLF Place Mall in Saket, where the DKNY outlet is shuttering in March, according to another source. An email sent to DNKY in the US did not elicit any response for several days. Sources say the brand could be exiting India due to differences with the Indian partner. However, Sarna denied the allegations.