Madura Fashion Eyes Tie-Upgrades With Giorgio Armani, Hackett – Report

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The FINANCIAL — Madura Fashion & Lifestyle, a division of Aditya Birla Nuvo, is in talks with Giorgio Armani SpA and Spanish investment firm Torreal-controlled men's clothing company Hackett Ltd. to expand its presence in the super-premium fashion segment, the Times of India reported Monday, from London Stock Exchange.


Madura and Giorgio Armani are negotiating to set up stores for Armani Jeans in India, the report said, citing sources it didn't name.

A possible deal with Madura could lead to Giorgio Armani expanding its India business ties beyond existing partner DLF Ltd. (532868.BY), which operates Giorgio Armani and Emporio Armani stores in the country, the report added.

The newspaper said that Madura is also set to announce a new 10-year deal to manage fashion retailer Esprit Holdings Ltd. (0330.HK). The Indian company's 2005 distribution tie-up with Esprit was set to expire this year, it added.



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