In an effort to set up retail stores in India, Germany-based high-end lifestyle brand Puma is setting up a JV with RGN Swamy owned knowledge Fire. In the proposed JV, Puma will hold 51 per cent stake and will open around 40 retail stores across the country by this year-end and take the count to 140 by 2015, reports ET.
As part of the deal, Puma will provide the latest technology, marketing expertise and logistics for high-quality products through its new retail venture, adds the report.
Currently, the company is operational in the country under the brand name Puma India for cash and carry wholesale trade and supplies largely the footwear ranges. With this JV, the company will sell footwear, apparel and accessories under a single brand name.
— IndiaRetailing Bureau