MBFG forms JV in India
Seeing the potential for sales as a result of the rising demand for high-end luxury goods in India, Italy’s Mariella Burani Fashion Group (MGFG) is to expand its presence in the country through a joint venture with Gitanjali (Mumbai, India). Under the agreement Gitanjali, which is one of India’s largest fully-integrated jewellery groups, will distribute MBFG’s leather goods, apparel, and jewellery collections through 32 mono- and multi-brand boutiques and 132 shop-in-shops. The Indian company will also provide production, marketing, logistics and distribution expertise.
Commenting on the new venture Giovanni Burani, CEO of MBFG said: “The joint venture is consistent with our strategy to expand internationally with top quality partners and we are proud to work together with the Gitanjali Group. We are convinced the venture will represent an important growth driver in India and North America and generate important visibility in emerging markets.”
