Sunday, 9 March 2014

Sir Philip Green Launches Miss Selfridge And Dorothy Perkins In India

Arcadia, the fashion group owned by Sir Philip Green, plans to launch its Miss Selfridge and Dorothy Perkins brands online in India.

The labels will be sold exclusively on Indian fashion site Jabong.com and are expected to be available in the coming weeks.

It is the first time the brands will be sold in the country which restricts western retailers from operating by prohibiting foreign direct ownership of shops.

Green has laid down massive global expansion plans. He told the Mail on Sunday in July 2012 that he wanted to create a global empire by 2015 and that he was 'seriously considering' the potential' of India.

Other foreign brands including Zara and Forever 21 have opened in India through retail outlets operated with local partners.

Meanwhile, Jabong.com has significant growth plans and recently set about raising $100 million to support growth plans. The investment includes $27.5 million of equity capital from British investment group CDC -  the UK's Development Finance Institution - wholly owned by the UK Government's Department for International Development.

That followed an estimated $40 million from Rocket Internet and $10 million from the European Founders Fund.

Arun Mohan, chief executive and co-founder of Jabong.com, told LiveMint.com, part of the Hindustan Times, that the Miss Selfridge and Dorothy Perkins brands had also been considering bricks and mortar retail partners but had instead chosen to launch online which 'seemed to resonate better'.

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