IndiaRetailBiz

“The JV is a part of the company’s plans to add another 3-4 million sq ft of retail space in the current financial year.” — Rakesh Biyani, Director, Pantaloon Retail India.

Pantaloon Retail, India’s largest listed retailer and flagship company  of the Kishore Biyani-led Future Group, which has tie-ups with 12 overseas apparel firms under different formats, has signed an equal joint venture agreement with Celio S.A. — a French apparel firm. This will strengthen company’s standing as a leading garments retailer of the country.

“We have formed a joint venture with French apparel firm Celio,” said Rakesh Biyani on the occasion of the inauguration of Replay brand store at New Delhi on Wednesday, the 4th June, 2008.

While, formal announcement of JV with Celio will be made in July, 2008, Pantaloon is planning to open the first store towards the end of October, 2008.

The Celio tie-up will offer a range of clothes and fashion accessories in the mid-price segment by pricing its products between the mass market and luxury segment, says a PTI report.

“Our proposed joint venture with Celio would sell products in the price range of Rs 1,500 to Rs Rs 3,000, which would work as a bridge between the mass market and high-end luxury segments,” said Biyani.

Founded in 1985, Celio S A operates around  400 stores worldwide and employs around 1,800 employees.

Celio’s culture, according to Christian Pimont, Chairman of the Board, is defined by 5 values of innovation, seduction, customer, profitability, and conquest.  Celio’s ambition is to be the absolute international must brand name in menswear, constantly in ouch with needs of its customers, adds Pimont.

“Replay” brand stores are outcome of Pantaloon’s tie-up for retailing fashion accessories with Italian “Fashion Box” Group. Pantaloon is Fashion Box’s master franchisee in India.