Italian luxury goods company Bulgari aims to take full control of its planned Indian store network.
It filed an application with the Foreign Investment Promotion Board (FIPB) to open its own stores in India. Details of the application have not been disclosed.
Bulgari, owned by LVMH Group, has been been in India before, however it exited the market in 2011 after it ended its partnership with Lifestyle Tradelinks India.
While the approval is still pending, Bulgari has already sought a space within DLF Emporio mall in Delhi.
“Yes, Bulgari is opening a boutique within this year,” said DLF Emporio senior VP Dinaz Madhukar.
Bulgari, whose offerings include jewellery, watches, accessories and fragrances, has 295 stores worldwide.