DLF Brands discontinues franchise partnership with Alc

DLF Brands discontinues franchise partnership with Alc

DLF Brands, a DLF subsidiary that retails fashion brands in the country, has ended its agreement to sell Italian company Alcott's collection.

"We are shutting down Alcott as it is not performing too well in India," DLF Brands managing director Timmy Sarna said, adding that the company has ended the franchise partnership started with Alcott in 2008. It is, however, unclear whether Alcott will now tie up with another Indian retailer.

Alcott is among the foreign fashion brands that have had a mixed fortune in India. In 2011, Alcott's senior executive Salvatore Colella had said that the brand was doing well and there were plans to convert the partnership with DLF into a joint venture. Last year, retail giant Esprit had exited the country after a nearly seven-year-long stint.

"Some brands are not able to survive in a competitive mark such as India, and Alcott is one of them," Sarna said.

DLF Brands, which had about 15 Alcott stores across the country, plans to shut down its last operational Alcott store, located in a south Delhi mall, later this month. Alcott, according to its website, has an annual turnover of 120 million from its close to 180 stores in nine markets, including Spain, France, Georgia, Germany, Syria and Lebanon. The brand, owned by Capri SRL, was formed in 1988.