Clarks inks JV with Pantaloon Retail

Monday, 10 May 2010

Pantaloon Retail has entered a 50:50 partnership with UK-based footwear major C&J Clark International for single brand retail and wholesale trading in India. Under the agreement, the joint venture would also be engaged in wholesale business of Clarks? branded products in India. The JV activities would be carried out by a separate company, which is yet to be named. With this JV, Pantaloon has taken a strategic business decision to enlarge its business activities and have a better footprint in retail as well as wholesale of branded footwear and allied products in India.

Kishore Biyani promoted Pantaloon Retail (India), is a large Indian retailer, which is part of the Future Group. It operates multiple retail formats in both the value and lifestyle segment. Headquartered in Mumbai, the company has over 1,000 stores across 71 cities in India and employs over 30,000 people. As of 2010, it was the country?s largest listed retailer by market capitalization and revenue. With effect from January 1, the company separated its discount store business, which includes the Big Bazaar hypermarket and the Food Bazaar supermarket businesses, into Future Value Retail it?s a wholly-owned subsidiary, so that the company may be listed independently.

C&J Clark International began with a flash of inspiration in 1825. Beautiful in their simplicity, unmistakable in their character and style the brand delivers laid-back shoes for men and women. They combine the best of classic and contemporary design.

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