After snapping ties with DLF, Armani has inked a franchise deal with
Genesis Luxury Fashion in India to expand its operations in the country. While Khaitan & Co and Covington & Burling advised Armani with a team led by corporate Partners Anand Mehta and Rabindra Jhunjhunwala along with Real Estate Partner Sudip Malik, Direct Tax Executive Director Daksha Baxi and Indirect Tax Executive Director Dinesh Agarwal to go ahead with the partnership, Genesis Luxury was advised by its in-house team. Genesis also has a joint venture with Burberry in India and represents brands such as Canali, Jimmy Choo and Bottega Veneta in the country.
Once the deal is finalised, Genesis will take over the management of the three Armani stores in India. It plans to open 20 more Armani stores over the next four-five years and take Emporio Armani, Giorgio Armani and Armani Jeans brands to cities such as Chennai, Bangalore and Kolkata. Apart from expanding its retail footprint in the country, Armani is also trying to grow its wholesale business, whereby it sells its garments, eyewear, accessories, cosmetics and perfumes through departmental stores and other multi-brand outlets. Armani recently tied up with designer Suneet Varma to bring in its kidswear brand Armani Junior into the country.
Armani’s interior design studio Armani Casa has also partnered with Mumbai-based real estate developer Lodha Group to design the interiors and decor for their luxury homes project World Towers in central Mumbai.