House of Pearl Fashions is planning a tie-up with European brand Lerros for its retail venture in India. The company will hold 60% equity in the SPV, which will be set up for the retail foray. Lerros will hold 40% equity. Initially, the company will open ten states in the national capital region and gradually increase the number of stores to 300 spread throughout India over a period of three years. The company also has its own brand in USA, DCC and Kool Hearts. It plans to combine its branding / designing experience with sourcing, knowledge to make a success of their foray in retail in India.
The company also recently won the best corporate social responsibility award from JC penny, one of its main customers. The company has a diverse customer-base and is serving over 90 retailers across the Globe.
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