Burberry is planning entering India in a big way

British luxury brand Burberry is planning a big entry into the Indian market and has proposed a joint venture with Genesis Colors, reports say. Burberry is awaiting a government approval on its venture plans and hopes to receive it soon. At present Burberry operates two stores in India through a franchisee format with Media Star Pvt. Ltd., which it will close if its proposal with Genesis Colors gets the Indian government approval, reports say.

The company plans to offer the Indian market accessories like bags, jewellery, sunglasses, watches, cosmetics as also apparels for all ages and wearability and sportswear, though 21 retail outfits, reports say. The styles of the apparel and the accessories would not be different from a Burberry retail outfit abroad, as the company believes that the taste of the top 50 markets is the same, so there is less need to customise apart from the sizes.

The company will hold a 51 percent stake in its joint venture with Genesis Colors and will invest ₤2.1million. It is targetting a net trunover of ₤33million by 2018-19.