Louis Vuitton coming here with FDI in single branding retail
New Delhi, May 16 (UNI) Marking the foreign direct investment in the single branding retail, French fashion house Louis Vuitton Malletier is among the three foreign firms which have applied for direct entry into India.
Lladro Commercial SA of Spain and Tano India Pvt Equity Fund of Mauritious are the other two aspirants for opening their single brand retail outfits in India after the government has allowed FDI in this category of retailing.
The policy is expected to encourage economic activity, employment opportunities and investment in the sector, Commerce and Industry Minister said, answering a Parliament question in the Lok Sabha. He said since branded products cater to a market segment different from that catered to by small traders, FDI in single brand product retailing is not likely to affect them adversely.
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