Fashion
Nike, Adidas and Muji are among eight global companies seeking single brand retailing approval from the Indian government.
According to a report in The Indian Express the Department of Industrial Policy and Promotion (DIPP) has received eight applications from global brands including Skechers, Kiko International, Ryohin Keikaku (Muji), Nike, Adidas and Swarovski after foreign direct investment rules were relaxed in July.
Foreign companies can now conduct business through more than one joint venture in India, according to the newspaper.
Since then, ITaly’s Kiko International has applied to retail beauty and skin care products, apparel, jewellery and handbags. Shoe maker Skechers and glass creator Swarovski followed.
Swarovski, along with Nike, have previously had applications turned down – in Swarovski’s case because it wanted to sell in both cash-and-carry chains and single brand retail stores. It was told to reapply with separate applications, The Indian Express reports.
The identity of the other two companies was not revealed.
