It is likely to have a majority stake in the joint venture with DLF.
Boggi (pronounced bawj-ji), a 70-year-old brand, offers a wide range of men's apparel, shoes, watches, fragrance and other accessories. It is controlled by three Zaccardi brothers who also run multi-brand retail chain Brian & Barry. The firm runs around 70 stores spread across Europe and the Middle-East under both Boggi and Brian & Barry banners.
A DLF spokesperson declined comment on the likely tie-up, according to Economic Times. Boggi will be another addition to a large portfolio of brands DLF is trying to build to tap every possible consumer segment.
DLF had decided to diversify into retail over a year ago and started negotiations with a large number of potential retail partners, since it lacks competency in retail. The progress, however, hasn't been very encouraging. Many potential partners are believed to be unhappy over the slow pace of negotiations.
DLF is understood to have finalised a partnership with Italian travel luggage brand Piquadro. It is also in advanced stage of negotiations with Thailand-based retailer Central Group for launching departmental stores in the country.
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