Retail in Asia

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Clarks footwear to be in step with Indian joint venture partner

Clarks Future Footwear, an equal joint venture (JV) company between the UK-based C&J Clarks and Future Lifestyle Fashions, is expected to continue with its JV despite having the option of buying out its Indian partner.

With 100 percent FDI being allowed in single-brand retail, international brands have been looking forward to buying out the balance stake of their respective JV partners.

In the past, footwear chains such as Pavers England have got the necessary clearance for 100 percent FDI in single-brand retail.