Italian luxury fashion brand Canali will set up a joint venture with Genesis Luxury Fashion for retail operations in India. The two companies earlier had a distribution arrangement and were operating five exclusive mono brand boutiques in the country. Canali had filed an application with Foreign Investment Promotion Board (FIPB) seeking its approval for setting up the joint venture. FIPB had approved the investment proposal and the joint venture will invest Rs 7.65 crore. Foray of Canali in India will bring a boost in the country’s retail sector where the signage players engaging in in-store/in-shop displays and signage will magnify their business to a new level.
