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Aditya Birla group firm Madura Fashion & Lifestyle (MFL) is in talks with a select few international luxury fashion brands to form joint ventures for opening standalone stores in India.
MFL that runs 'The Collective' stores retailing a slew of global fashion brands, including Armani Collezioni, Versace Jeans and Hugo Boss, will be investing over Rs 100 crore to take its total store count to up to 15 in five years.
"Recently, we had a relook at our international brands business and we believe that a select few brands could be scaled up to become independent mono-brands. We are in talks with those brands to form joint ventures so that we can open standalone stores," MFL CEO Ashish Dikshit told PTI.
According to industry sources, the company has been having dialogues with Ted Baker, True Religion and Fred Perry brands for separate JVs, in line with the move to open mono-brand stores for British men's luxury clothing and accessories brand, Hackett.
Dikshit, however, declined to confirm it.
"We are in talks with other international brands, which are not in the portfolio of The Collective, as well. We are looking at other brands too," he said.
When asked whether MFL will be the majority stakeholder in the proposed JVs, Dikshit said, "Not necessarily. We will take one brand at a time and a lot will also depend on the other brand partner. With Hackett, fo