Future Ventures, the venture capital arm of Kishore Biyani-led Future Group, will soon sign a 50:50 JV with the promoters of luxury leather goods maker Hidesign, a group that supplies to most top retail chains in the US and Europe. As part of the deal, the JV partners will launch an India-oriented lifestyle brand — Holii, reports The Economic Times.
“The brand Holii will be the first lifestyle Indian brand to focus on the modern Indian woman. The pricing will be more competitive on account of the lower manufacturing costs in India,” quoted Dilip Kapur, promoter and president of Hidesign India in the report.
The brand will cater to consumers in the mid-to-mass market segments across all retail formats, including that of the Future Group. The label offers a range of products such as briefcases, handbags, computer bags, garments, wallets, belts and other personal and desktop accessories, Kapur further added in the report.
— IndiaRetailing Bureau