Seiko scouts for minority partner for retail venture.
Economic Times (New Delhi, India), May, 2007
May 1--BANGALORE, India -- Japanese giant Seiko Corporation may tap the FDI route for retailing watches in India. It is exploring the option of keeping 51 percent stake in a retail JV with a local partner.
While FDI remains closed to large tracts of retail, the Centre has allowed 51 percent foreign investment in single brand retailing. Seiko is looking at FDI to set up a chain of flagship stores 'to retail watches the Seiko way' apart from taking the multi-brand outlet (MBO) channel in a select manner.
"We are looking at options, and have not decided on anything at the moment," Seiko Watch India MD Atsushi Kaneko told ET. Currently, Seiko was finalising its MBO strategy ahead of the market launch in June this year. Seiko could also bring in its luxury...
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