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The first shot has been fired in the age of FDI in single-brand retail.
On December 23, Finland’s Amer Sports, which owns several leading global
sporting brands, sent a letter to Pantaloon Retail, terminating an
April 2010 agreement that had made the Kishore Biyani-owned company the
exclusive distributor of Wilson and W brands in India. Pantaloon struck
back, suing the Finnish company in the Delhi High Court and securing an
injunction. The case is scheduled for hearing in February.
A person with direct knowledge of the matter said Amer snapped the agreement as it wanted to open its own branded stores in India, since the country now allows full foreign ownership of single-brand retail ventures. The company owns prominent brands including Wilson, W, Atomic and Solomon.
Amer’s termination letter said Pantaloon must stop selling Wilson and W branded goods in six months. Pantaloon’s lawyers told the court that the company is currently...
A person with direct knowledge of the matter said Amer snapped the agreement as it wanted to open its own branded stores in India, since the country now allows full foreign ownership of single-brand retail ventures. The company owns prominent brands including Wilson, W, Atomic and Solomon.
Amer’s termination letter said Pantaloon must stop selling Wilson and W branded goods in six months. Pantaloon’s lawyers told the court that the company is currently...