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Celio, Future Group JV to open designer stores in India

Published 26 November 2013

French men's clothing retailer Celio, in joint venture with India-based Future Group, plans to open new designer stores in India.

Called as Celios Future Fashions, the JV aims at securing Celio's place in Indian business market by increasing the number of its standalone stores and shop-in-shops at multi-brand retail chains.

Celios Future Fashions had earlier received clearance from the Foreign Investment Promotion Board (FIPB) to increase its India stake to 100% in July 2013, and has already increased stake in the JV to 65%.

Celio Future Fashions's chief executive Rajiv Nair said, "The aim is to expand this presence and make the brand more accessible to customers. Along with the major metropolitan cities, the comapny aims to grow stores in tier II cities as well."

Apart from increasing the number of stores, the JV is also looking to refurbish its store design to impart global look and feel to the stores with the Celio standalone stores and one shop-in-shop stores in India to be redone with the look of the Via Del Corso (Rome) and Champs Elysees (Paris) signature outlets.

Celio is increasingly sourcing more from India to lower the brand prices. In its summer-2014 merchandise, the brand has sourced 53% of its requirement from India.