Gitanjali Lifestyle ltd signs MoU with Italian fashion group

New Delhi, Dec 19 (UNI) Jewellery maker and retailer Gitanjali Gems Ltd today said its subsidiary Gitanjali Lifestyle Ltd (GLL) is signing a Memorandum of understanding (MoU) with Mariella Burani Fashion Group (MBFG) of Italy to form a joint venture company in India.

The proposed JV is aimed to drive the MBFG's brands in emerging markets, particularly the Mariella Burani, Baldinini, Rosato, Calgaro and Facco collection in the Far East by capitalising on the expertise contributed by the respective partners.

GLL will develop an extensive distribution network which is expected to include 32 monobrand and boutiques and 132 shop in exclusive multi-brands retailers.

The Company will provide production, marketing, logistics and distribution expertise based on its know-how of the Indian Market and its existing retail network.

MBFG will contribute its consolidated experience in the design, development and international distribution of Italian lifestyle appered, leather goods and Jewellery collections.

MBFG is a global producer, designer and distributor for a diversified and complementary range of luxury apparel, footwear, leather accessories and jewellery collections.

UNI