Versace, Infinite Luxury Group tie up for India retail

As per media reports, Italian fashion house Versace,

which snapped ties with Blues Clothing Company late last year has inked a tie-up with designer Manav Gangwani's Infinite Luxury Group. However, when contacted the company spokesperson refused to confirm or deny the same. As per news reports the plan underway is expected to reinvent company’s identity in the country by re-opening existing stores and launching new ones.

After global fashion brand Esprit and Aditya Birla Group’s Madura ending their seven-year-old distribution agreement, Milan-based luxury fashion company Gianni Versace SpA had terminated its exclusive franchise agreement with its Indian partner Blues Clothing Company, clearly showcasing expectations mismatch between the global brand and its domestic partner. A new entrant in luxury retail and hospitality, Infinite Luxury Group — co-founded by Gangwani, Dubai-based entrepreneur Sahiba Narang and finance expert Rahul Kapoor —started its first venture in India with Roberto Cavalli, and is also franchise partner for high-end fashion brands Missoni, Emilio Pucci and Cavalli Cafe.

It may be recalled that there have been several instances of global brands and their Indian partners breaking their relationship even in the past. In 2008, UK’s Marks & Spencer ended its franchise agreement with Planet Retail and opted for a joint venture with Reliance for faster roll-out of its stores. In 2010, Italy’s GAS ended its venture with textile and apparel major Raymond and entered India on its own through the cash and carry route. Recently, the Italian owners of menswear luxury brand Corneliani also found a new partner in OSL Luxury.