In recent months Luthra & Luthra’s M&A team has assisted DLF Retail Brands on transactions involving some of the world’s leading fashion brands seeking to expand their exposure in India. Joint venture deals have been secured with key brands including Giorgio Armani, Salvatore Ferragamo and Boggi Milano.
After protracted negotiations spanning almost a year, Giorgio Armani agreed to an exclusive arrangement with DLF by virtue of which all Giorgio Armani and Emporio Armani retail stores in India would be opened and operated by the DLF-Armani joint venture company. The fashion chain opened a new flagship store in New Delhi in late October.
The deal with Salvatore Ferragamo for the retail of single brand products under the Salvatore Ferragamo and Ferragamo brands in India saw the creation of Nelia Retail, a wholly owned subsidiary of DLF Retail. The transaction included the acquisition by Nelia Retail of certain businesses and assets from Sports Station India. Luthra & Luthra was involved in the drafting and negotiation of the entire suite of transaction documents.
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