Italy's Benetton Group SpA has signed a strategic partnership with Trent Ltd., a subsidiary of Indian Tata Group, for the distribution of Sisley fashion brand in India.
Executive deputy chairman of Benetton, Alessandro Benetton, and Noel Tata, managing director at Trent, signed the agreement on Tuesday.
Under terms of the strategic partnership Trent will open and manage a series of Sisley stores in the main urban areas of India. The first sales points will be opened in the southern Indian cities of Hyderabad and Bangalore over the next few months.
Thanks to the agreement the Italian group, which currently operates 140 United Colors of Benetton stores in India, will strengthen its positions on the Asian market, Benetton said.
The Italian fashion group has been present in India for more than 15 years, Benetton added.
The partnership was signed a few months after the launch of the first three Sisley stores in Delhi, which will also be managed by Trent.
