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Benetton plans opening own stores in India

By Sujata Sachdeva

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United Colors of Benetton is planning to open fully-owned stores in India in the next two or three years. At present, the brand operates through franchisees. India is one of the top five markets for the Italian major. Benetton has around 791 franchise-owned stores in India and plans to open 20 more by March 2016. It is also in the process of revamping its existing chain of stores by making them omni-channel. This year, Benetton opened 85 new stores.

Meanwhile Benetton is seeking more clarity on foreign direct investment (FDI) rules in India. Recent changes in India’s FDI policy state that an entity that gets permission to undertake single brand retail, will be allowed to undertake e-commerce activities as well. Currently, Benetton is studying all options including opening its own website and selling online.

Starting this year, Benetton will transform all its stores in India into ‘On Canvas’ concept store. India is the first Asian country where Benetton is bringing these concept stores. In the coming years, the company would substantially increase sourcing from India for the global markets.

Benetton