Italian jewelry brand Damiani plans India entry

After India hiked the FDI cap in single-branded retail

from 51 per cent to 100 per cent, several international companies like UK-based shoe company Pavers England and Swedish home products IKEA expressed their interest to enter. Now joining them is Italian jewelry brand Damiani. Recently, the brand has filed a proposal to the Foreign Investment Promotion Board (FIPB) in this respect.

An official from the department said that Damiani India has sought permission for single-brand retail business in collaboration with Damiani International B B, Italy. Damiani opened its first outlet in New Delhi recently.

Founded in 1924, Damiani SpA, the parent company of the Damiani Group, is an Italy-based manufacturer of jewelry and high level luxury watches. The group has its presence in many major markets worldwide. Globally, it operates through its fully owned subsidiaries and manages 32 direct and 50 franchised points of sale.