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Celio raises ante in India

French menswear brand Celio’s proposal to fully own its India business has been approved.

Celio plans to take 100 per cent control of its joint venture, Celio Future Fashions, with Future Group. It has already raised its stake in the JV from 50 per cent to 65 per cent and now plans to increase its store network.

“Our aim is to expand this presence and make the brand more accessible to customers. Along with the major metropolitan cities, we aim to grow stores in second-tier cities as well,” said Rajiv Nair, CEO of Celio Future Fashions.

Besides opening new stores, Celio also plans to refurbish its existing 38 standalone stores and 130 shops-in-shops to make them on par with global standards.

Like Marks & Spencer of the UK, it also plans to make India its largest market outside its home market.

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