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  • CS Siglata Una JV Con Lasociet Indiana Brandhouse Retails Eng

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    OVSindustry, an Italian apparel retailer, has signed a joint venture with Brandhouse Retails, an Indian fashion retailer, to open 190 OVS stores in India over the next 5 years with a total equity investment of €9.5 million. Under the agreement, OVSindustry will initially hold 37.5% equity which can increase up to 50% and potentially 100% as more stores open. The joint venture allows OVSindustry to expand its fast fashion model internationally into India's growing market and middle class, while Brandhouse Retails gains access to OVS's affordable fashion brands to fill a gap in the Indian market.

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    OVSindustry, an Italian apparel retailer, has signed a joint venture with Brandhouse Retails, an Indian fashion retailer, to open 190 OVS stores in India over the next 5 years with a total equity investment of €9.5 million. Under the agreement, OVSindustry will initially hold 37.5% equity which can increase up to 50% and potentially 100% as more stores open. The joint venture allows OVSindustry to expand its fast fashion model internationally into India's growing market and middle class, while Brandhouse Retails gains access to OVS's affordable fashion brands to fill a gap in the Indian market.

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    35 views1 page

    CS Siglata Una JV Con Lasociet Indiana Brandhouse Retails Eng

    Uploaded by

    Naveen Mathur
    OVSindustry, an Italian apparel retailer, has signed a joint venture with Brandhouse Retails, an Indian fashion retailer, to open 190 OVS stores in India over the next 5 years with a total equity investment of €9.5 million. Under the agreement, OVSindustry will initially hold 37.5% equity which can increase up to 50% and potentially 100% as more stores open. The joint venture allows OVSindustry to expand its fast fashion model internationally into India's growing market and middle class, while Brandhouse Retails gains access to OVS's affordable fashion brands to fill a gap in the Indian market.

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    PRESS RELEASE Gruppo Coin: OVSindustry signs a JV with the Indian company Brandhouse Retails.

    OVSindustry, leading apparel retailer in the Italian fast fashion market, has signed a joint venture with Brandhouse Retails Ltd, one of the leading fashion retailers in India. The agreement foresees the opening of 190 stores in India over the next 5 years. Total equity investment will be equal to 9.5 million during the first 24 months. The terms of the agreement foresees a balanced governance structure between the two partners. In the first period OVSindustry will hold 37.5% of the new company while Brandhouse Retail the remaining 62.5%; according to the proceeding of the stores opening plan and to settled agreements, OVSindustry will have the right to increase its stake up to 50% less one share in a first moment and potentially to 100% in a second time. Stefano Beraldo, CEO of Gruppo Coin, has so commented the agreement: OVSindustry, that owes its success in Italy mostly to a strong capacity of providing fashion at affordable prices, wants to continue to reinforce its success model also outside Italy. This is definitely an important step for the internationalization process in so far as the Indian market is an important growing market where the youth are willing to experience the Italian fast fashion. Brandhouse Retails is an important Indian company with about 600 outlets, willing to believe in our brand and in our positioning and with the goal of bringing OVSindustry closer to the Indian middle class. Right now OVSindustry is present with more than 40 stores in Eastern Europe and Middle East. Announcing the joint venture, Nitin Kaliswal, CEO, Brandhouse Retails, said: Indian fashion industry faces a huge gap especially for fast fashion, at affordable prices. The youth today are exposed to international trends and seek high fashion, which in India is not available and definitely not at affordable prices. With this joint venture, we would be ideally suited to address this huge demand amongst the youth among the country. Looking at this gap in the market, we are delighted to partner OVSindustry who have a vast experience in this kind of segment. Brandhouse Retail Ltd is one of the leading player in the Indian retailing market of fashion. At the present Brandhouse Retails is the master franchisee of brands like Reid & Taylor, Belmonte, Carmichael House & Stephen Brothers and is the exclusive India franchisee for international luxury brands like Alfred Dunhill.

    Contacts:

    Federico Steiner Barabino & Partners Tel.0039.02.72.02.35.35 Cell. 0039.335.42.42.78

    Nicola Perin Gruppo Coin Spa Investor Relations Manager Tel. 0039.041.239.8922

    Venice, 17 February 2009

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