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American fashion major Ralph Lauren is in talks with the Aditya Birla group’s Madura Fashion and Lifestyle for a 51:49 per cent joint venture, according to sources in the know of the development.
The sources indicated that the two companies may sign a 10-year deal.
New York-based Ralph Lauren designs and markets premium lifestyle products in the apparel, home, accessories and fragrances segments.
A spokesperson for Aditya Birla Nuvo, of which Madura Fashion and Lifestyle is a part, said the company did not wish to comment on market speculation.
In the past, Ralph Lauren has been in talks with several prominent apparel names, including Trent, Arvind Mills, and the Murjanis.
Currently a supplier to Ralph Lauren, Madura Fashion and Lifestyle is keen on bringing in more premium brands as part of its strategy to retail high-margin products.
Madura’s brand portfolio ranges from the affordable to the high-end. Its brands range from Peter England, Louis Philippe and Van Heusen to Allen Solly and Hackett London.
In October 2013, Ralph Lauren had filed a case against Arvind and US Polo Association in a US District Court alleging breach of agreement by them over non-compliance with a condition requiring printing of disclaimers on US Polo products sold in India.
Arvind’s subsidiary company, Arvind Lifestyle Brands, holds a licence to manufacture and market US Polo products in India.
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