Arvind Mills and Diesel Planet forms Joint Venture

Arvind Mills Ltd has announced that Diesel (Diesel International B.V.) has just closed a joint venture agreement for the creation of a new Company called Diesel India Fashion Arvind Pvt Ltd, representing the official arrival of Diesel in the Indian market.

After a long , careful and detailed search, Diesel has chosen to partner in this initiative with the Company, one of the main players of the textile market, known for its successful launch and development of American brands in the local market.

With offices set in Bangalore, Diesel India Fashion Arvind Pvt Ltd will start up its operations by opening two flagship stores, one in New Delhi and one in Mumbai, before the end of this year. Diesel plans to open 15 stores within the next three years.

Sanjay Lalbhai Managing Director of the Company was equally enthusiastic, "Over the last many years, Diesel has truly created an alternate to luxury fashion. The prospect of brining Diesel to the Indian inspirational consumers is indeed very exciting. It is also a matter of great prestige for Arvind to partner with Diesel - a Company internationally reversed in the fashion business."

Source : Equity Bulls

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