Global retail player Mothercare has entered into a joint venture with realty major DLF's retail managaement firm, DLF Brands, to open standalone stores of the UK-based company in the country.
While Mothercare will hold 30 per cent stake in the JV, DLF Brands will have control over the remaining 70 per cent. This will be Mothercare's first venture into exclusive retail chain business in the country.
"The joint venture will roll out standalone stores in DLF's shopping malls and other similar locations across the country," Mothercare said in a statement today.
The company, which operates 23 shop-in-shop in the country under a separate franchise agreement with the Raheja Group-promoted Shopper's Stop, said the JV will accelerate its expansion in the country.
"We are very excited to announce today that we have partnered with DLF to further develop our standalone stores presence in India for the Mothercare brand. We are looking forward with DLF and Shopper's stop to accelerate our expansion," Mothercare Chief Executive Ben Gordon said.
Gordon said Mothercare will have an option to increase its shareholding in the JV to 51 per cent in future.
