Its a good news for the French fashion brand Celio as Foriegn Investment Promotion Board (FIPB) approves its plans to raise the stake in Future Group JV. The brand can now raise its stake from 50:50 to upto 100 per cent, thus allowing it to invest nearly Rs 40 crore in the country.
As the news come in, the two companies are already in talks to discuss the details of the deals. The brand has been operational in the country since four years with 30 standalone stores and over 100 shop in shops.
- FIPB Govt clears 8 FDI proposals worth over Rs 1,311 cr (thehindu.com)