Brandhouse inks JV with Italian apparel brand

MUMBAI: Textile major, Brandhouse Retails, on Tuesday signed a joint venture (JV) with Italy's apparel brand, Oviesse.

The total investment in the joint venture will be Rs 161 crore and it would market Oviesse's products in the country. The JV will set up 190 stores across metros, Tier I and Tier II cities in the next five years, a press release issued here said.

Brandhouse Retails will hold a 62.5 per cent stake in the JV while the balance will be held by Oviesse. The first three stores will be launched in October this year in Delhi, Bangalore and Mumbai, the release added.