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FDI deals mounting rapidly

Foreign Direct Investment (FDI) in Indian retail appears to be finally marked off, looking to the scurry observed in the scenario.

A joint venture is setting up to sell Nike products including footwear, sportswear, boots, slippers, sandals, athletic shoes and apparels by Moja-Tano.

Moja Shoes of Haryana will join with a foreign unit Tano India which has foundation in Mauritius.

US-based global restaurant chain TGI Friday's, a subsidiary of Carlson Restaurants Worldwide has bought a 25 percent stake in its Indian master franchisee, Bistro Hospitality.

They have agreed to have 25 outlets within three years and promote another 60 restaurants over a period of seven years.

Lladro a Spanish porcelain maker in a joint venture with its existing Indian distributor Spa Agencies will open retail boutiques to sell products under its brand in India.

The new company will be known as Lladro India.

Louis Vuitton Moet Hennessey (LVMH) will flush in about Rs.26 crores to buy into LV Trading and Fendi will be investing nearly Rs.32 crores in Fun Fashion India.

Gucci and Giorgio Armani plans unlock stores in Mumbai and New Delhi shortly.

Italian fashion brand Versace recently opened its first boutique in India.

International fashion brand Escada has tied up with S. Kumars' Retail to sell its range in India.

These are a few trickles ahead of the forthcoming surge by foreign luxury brands, on the Indian soil.

The Indian market for luxury goods and services is expected to grow at a rate of 15-20 percent each year, according to a market guess.

India 's market for consumer goods might attain to be one of the five largest markets of the world.

With malls aptly increasingly in large cities, it is estimated that about150 new shopping malls may come up by 2008.

Thus the configuration of foreign direct investment retailing in India is fast developing.


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