Source: Business Standard, May 04, 2016
Mumbai: Massimo Dutti, the Spanish premiumfashion brand from the Inditex stable which also owns Zara, is entering India after years of wait due to regulatory hurdles. Its first store will open in a Delhi mall with 5,027 sq ft of retail space. Globally, Massimo Dutti has 755 stores across 73 countries.
The Zara group competes with Sweden's H&M, which entered India last year. The Foreign Investment Promotion Board (FIPB) had in 2012 rejected the proposal for Massimo Dutti citing violation of a rule framed by the Department of Industrial Policy & Promotion (DIPP) that says an investor must own the brand it is proposing to bring to India. In the case of Massimo Dutti, the application was made by Zara Holdings Netherlands, but the brand is owned by Euro 13.8-billion Spanish retail chain, Inditex.