Bird Group, a diversified business entity, today said it has entered into a franchise agreement with Swiss luxury goods firm Labelux to launch the latter's leather goods brand Bally in India.
Bird Group will set up the first exclusive Bally store in the country later this year in Delhi.
"This partnership is of immense strategic importance for us. We believe that Bally's heritage of excellence in craftsmanship and established reputation in luxury goods is a perfect fit with India's evolving luxury sector and consumer expectations," Bird Group Executive Director Ankur Bhatia said in a statement.
The company, however, did not specify the total number of outlets planned in near future.
Founded in Switzerland in 1851, Bally is owned by Labelux Group that manufactures shoes and accessories under the brand.
Commenting on the development Bally CEO Berndt Hauptkorn said, "Today, we operate in almost 90 countries. This partnership marks our entry into the Indian market, which is one of huge potential for today and well into the future."
Source: July 23, 2011, PTI