Delhi-based leather accessory brand Da Milano has formed a 50:50 joint venture with Pavers Foresight Smart Ventures to retail international fashion footwear brand Staccato in India, reports ET.
Hong Kong-based Staccato is a decade-old brand with a range of products in men’s and women’s footwear. The brand is sold through atleast 800 exclusive stores across the globe. Pavers Foresight Smart Ventures is an equal equity JV between footwear retailer Pavers and the London-based diversified group Foresight. Pavers Foresight Smart has exclusive retail rights for Staccato in Asia and Europe.
The brand will be rolled out in India in April and will initially be retailed through existing 11 stores and upcoming 25 stores of Da Milano across the country. The brand also plans to set up exclusive stores in the future, the report further adds.
“Staccato is a premium brand and will cater to the growing demand for footwear in this segment. Initially, we will have only women’s range, but later extend it to men’s as well,” quoted Utsav Seth, CEO, Pavers Foresight Smart Ventures, in the report. The products will be available in the price range of Rs 2,500-Rs 6,000.
— IndiaRetailing Bureau