Italian fashion apparel major Gas Jeans has reportedly sought approval from the Department of Industrial Policy and Promotion (DIPP) to open its own single-brand retail stores across India.
Gas Jeans, which offers apparel for the young crowd under the GAS brand, already operates 65 stores in the country, all through the franchise route.
In August this year, Gas Jeans formed a joint venture with Reliance Brands for its expansion plans in India. The fashion vertical of Reliance Industries runs exclusive GAS outlets, while the wholesale & distribution business is handled by GAS Jeans India, a wholly-owned subsidiary of GAS brand owner Grotto.
The company’s latest step follows changes made by the Government of India in its foreign direct investment (FDI) policy for single-brand retail in India, which includes allowing the foreign single-brand retailers to sell online.
Under the changes made, retailers in the country via 51-per cent FDI and above would not have to start 30 per cent domestic sourcing from Indian manufacturers from the day they are given the permission for FDI.
Swedish fashion retailer Hennes and Mauritz (H&M) has already debuted in India with opening of two retail outlets in New Delhi this year, while German sportswear maker Adidas is expected to soon set up its retail stores.
