Italian textile and clothing company Loro Piana SpA is all set to sign a JV with Kishor Bajaj-led Bada Saab Design to foray into Indian markets. According to reports, Loro Piana has been going to the deal through its Swiss arm Loro Piana SA and will hold 51 per cent stake in the proposed JV called LP Retail.
As part of the deal, the JV will sell all Loro Piana products under the brand name Loro Piana through single brand retail outlets in India, added the reports. Interestingly, Bada Saab Design is also the master franchisee of another Italian brand, Brioni, in India.
Currently, Loro Piana group is operational with 113 stores across the world including major markets like the US and Europe.
— IndiaRetailing Bureau