Promod news and archive

Retail

Promod targets 100 stores in India by 2025

French apparel brand Promod, which recently opened its first E-origin store in Mumbai’s Palladium Mall, plans to launch 100 stores by 2025. The brand plans to launch 10 more E-origin stores by 2021 and by 2025 convert all existing stores into E-origin format stores. The brand has earmarked an investment of Rs 50 crore for the project. The new...

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Fashion

Global single brands bet on India growth story

Global brands are looking to India for boosting their growth as more and more of them are looking for ways to enter this market. Taking advantage of the government’s decision to allow 100 percent FDI in single-brand retail, scores of brands have queued up with their proposals. So far proposals worth about Rs 855 crores have already been cleared...

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Apparel

FIPB clears four retail proposals

In a bid to boost India’s economy, Foreign Investment Promotion Board (FIPB) has cleared the proposals of four global retailers to set up operations to sell their brand’s products in India. While it was reported yesterday that the proposals were to be taken for approval in a meeting, official sources say, they have already got the green signal....

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Apparel

Four single-bra​nd proposals may get FIPB nod this month

The Foreign Investment Promotion Board (FIPB) may take up four proposals of global brands, including French fashion brand Promod, France-based crockery maker Le Creuset, US-based accessories firm Fossil and French sports giant Decathlon, worth over Rs 750 crores for setting up single-brand retail stores in India during its next meeting scheduled...

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Apparel

Tommy Hilfiger, Promod file for 51% FDI in single-brand retail

After Swedish furniture-maker IKEA, premium clothing and accessory brands Tommy Hilfiger and Promod have filed proposals to the Department of Industrial Policy and Promotion (DIPP) for investing in single-brand retail in the country. According to reports, the American apparel-maker has decided to open 500 stores in India over the next five years...

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Fashion

Global brands relook India JV partnerships

Global brands are betting big on India, this despite no clarity on FDI in multibrand retail. In fact, statistics from Department of Industrial Policy and Promotion (DIPP) the nodal agency that clears such foreign investments reveal that a number of top brands have put forth their proposals of either increasing stake in JV or expanding their...

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Apparel

Major Brands, Promod rework deal

Major Brands will scrap its franchise agreement with French women’s wear retailer Promod and instead have a joint venture. Promod will hold a 51 per cent stake in the venture and Major Brands the rest. The agreement will set up 40 Promod stores in five years, with contributions from the region expected to account for 15 to 20 per cent of Promod’...

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Apparel

Delhi flocks to labels

Designer and high street international brands are opening stores in New Delhi at breakneck speed. The newest treat for shoppers is the fast fashion pioneer Zara. This Spanish brand at Select Citywalk, offers trendy clothing from a collection that’s renewed in a matter of weeks. So customers can expect apparel that’s contemporary in terms of...

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