Madura Fashion & Lifestyle enters into joint venture with Hackett London
12th September, 2012
Bangalore: Madura Fashion & Lifestyle (MF&L) has announced a joint venture with Hackett London, the quintessential British men's luxury clothing and accessories brand. This move comes as part of Hackett continuing its global expansion plans and marks MFL's foray into the luxury mono brand business.
Mr. Ashish Dikshit, CEO, Madura Fashion & Lifestyle, comments, "As part of our international brand strategy, we aim to launch select international brands within the Madura F&L portfolio. Our partnership with Hackett London clearly establishes our intent and we plan to bring in few more brands to India from around the globe. This is in line with our vision to strengthen our leadership position across various segments in the apparel industry."
The quintessentially British brand Hackett has been flying the Union Jack high around the world for many years, so it is fitting that in this, a Jubilee year, HM Queen Elizabeth has honoured Hackett with a 'Queen's Award for Enterprise in International Trade'. Hackett's commercial success has been linked to the export of its very British take on things to countries around the world, which will now extend to India.
Mr. Vicente Castellano, Managing Director, Hackett London, said, "Hackett London has been expanding rapidly over the last few years as part of our ambition to become a global brand and we were proud to be awarded 'The Queen's Award for Enterprise' in recognition of this expansion. India, as one of the key growth economies of the world, has been on our radar for some time and now with our recently concluded joint venture with Madura, we have the right partner to tackle India successfully. Madura's undoubted understanding of the Indian men's fashion market combined with the appeal of Hackett London will enable us to build a strong business in India and bring our "Essentially British" world to the Indian consumer."
The first store will open in Emporio Delhi in the second week of September followed immediately by another store opening in UB City, Bangalore. The third store slated for FY13 will open in SS13 in Chandigarh.
About Madura Fashion & Lifestyle
Madura Fashion & Lifestyle (MF&L) is one of India's fastest growing branded apparel companies and a premium lifestyle player in the retail sector. MF&L's portfolio includes product lines that range from affordable and mass-market to luxurious, high-end brands and caters to every age group, from children and youth to men and women. MF&L is defined by its world renowned brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England and People. These brands personify style, attitude, luxury and comfort. Planet Fashion, the multi-brand, apparel-retailing arm of MFL, retails not only the company's brands but also other leading brands in apparel. Apart from its own premium brands, the company has a distribution agreement with Esprit, one of the leading premium lifestyle brands in Europe. MF&L also manages retailing of luxury brands through a multi-brand format called 'The Collective'. MF&L reaches its discerning customers through an extensive network comprising more than 1,000 exclusive and franchise stores occupying more than 1 million sq ft of retail space. It has a strong presence in over 1,500 multi-brand outlets and over 300 shop-in-shops in over 125 department stores across the country.
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