Fendi Seeks Part­ners to Revamp In­dia Ops

Co op­er­ates through a JV and has a store at Em­po­rio mall, New Delhi

The Economic Times - - Brands: Creating Desire - Anu­meha.Chaturvedi @times­group.com

New Delhi: Ital­ian fash­ion house Fendi, a part of lux­ury goods con­glom­er­ate Louis Vuit­ton Moet Hen­nessy (LVMH), is seek­ing part­ners in In­dia to re­struc­ture its busi­ness, ac­cord­ing to sources fa­mil­iar with the de­vel­op­ment.

Fendi cur­rently op­er­ates in In­dia through a com­pany called Fun Fash­ion In­dia, which is a joint ven­ture ar­range­ment with Bea­gle Fashions. The fash­ion ma­jor, known for its fur ac­ces­sories and leather goods like the Baguette hand­bags, is present in In­dia through a store at the Em­po­rio mall in New Delhi.

Mails sent to Fendi’s spokesper­sons did not elicit a re­sponse un­til the pub­li­ca­tion of this re­port. Ac­cord­ing to peo­ple fa­mil­iar with the de­vel­op­ment, Fendi had ear­lier ac­quired a 51% stake in the Mumbai-based Fun Fash­ion (FFI) and it was sup­posed to op­er­ate as a joint ven­ture com­pany be­tween Chor­dia Fashions, pro­mot­ers of FFI and Fendi. Chor­dia Fash­ion’s stake in FFI was later bought out by Bea­gle Fashions, ac­cord­ing to sources. Di­rec­tors of Fun Fash­ion In­dia in­clude Fendi ex­ec­u­tives Al­berto Da Pas­sano, Al­berto Fab­bri, and Tikka Sha­tru­jit Singh, who is also the di­rec­tor of Bea­gle Fashions. Fendi be­gan op­er­a­tions as an in­de­pen­dent fash­ion house in 1925, and later be­came a part of the LVMH. At the be­gin­ning of this year, LVMH had said that the con­glom­er­ate recorded rev­enues of 37.6 bil­lion in 2016, an in­crease of 5% over the pre­vi­ous year.

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