Italian luxury clothing and accessories brand Versace 19.69 ABBIGLIAMENTO SPORTIVO, Milano-Italy
founded by Allessandro Versace
in the year 2001,
announced their India entry in an exclusive partnership with Majgenta Fashions
– India’s leading Fashion Apparels & Leather Exporters to tap into USD 535billion Indian retail market
Elaborating on the exclusive partnership with Majgenta Fashions-India, Mr. TheofanisPapadas, CEO, Versace 19.69 Italia S.R.L., said “India is a very important luxury market for us that is growing at a rapid pace! We are here to bridge the luxury and affordability gap for the Indian fashion aficionados”
“Under the MOU, Versace 19.69 Italia SRL has agreed to grant a license of the Trade name & Trademarks to Magenta Fashions -India, to manufacture and market on behalf of and in the name of Versace 19-69 ABBIGLIAMENTO SPORTIVO, Milano Italy
. The brand is all set to offer products under various categories that include Apparels, Footwear, Accessories, Jewelry, Eye-Wear, Cosmetics and Home Furnishings
”, he further added.
Mr. Ravi Shankar Rao, Managing Director & Partner, Majgenta Fashions-India said, “Majgenta Fashions-India will be entitled to manufacture whether by itself or through any third party appointed by Majgenta Fashions-India, on behalf and in the name of the Versace 19-69 ABBIGLIAMENTO SPORTIVO Milano-Italy
and market and sell the products using the Trade name &Trademark through various marketing formats including that of sourcing, outsourcing, franchising and other similar arrangements.”
“Majgenta Fashions, India shall also be entitled to source from/through Versace 19.69 ABBIGLIAMENTO SPORTIVO Milano-Italy or its licensees worldwide, import to India and market in India through the stores set up by Majgenta Fashions directly or through franchisees, any other products, not included in the agreement, manufactured and marketed directly or indirectly by Versace 19.69 ABBIGLIAMENTO SPORTIVO Milano-Italy /its licensees using the Trade name &Trademarks.” added Rao.
Theofanis Papadas, CEO, Versace 19.69 Italia S.R.L., said, “Versace 19-69 ABBIGLIAMENTO SPORTIVO,
Milano Italy shall also have the right to purchase from Majgenta Fashions-India and sell and market in international markets, the goods manufactured by
Magenta Fashions in the name and on behalf of Versace 19-69 ABBIGLIAMENTO SPORTIVO,
The first phase of India launch will see the introduction of ‘Eye-Wear’ and ‘Jewellery’ followed by the entire product range by year end. Majgenta Fashions will roll-out around 70 stores across India over a period of 2 years.
Versace 19-69 will be directly involved in the Styling and Marketing of the brand in India while Majgenta Fashions will be entirely responsible for manufacturing, retailing and other related functions. Versace 19-69 ABBIGLIAMENTO SPORTIVO, Milano Italy
with a footprint in over 200 countries
across the globe will now be available in India from Feb 2013!