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Mergers & Acquisitions | 29 November 2012

Global Retailer - Esprit To Exit India By Year End

by Vivek Singh
Global Retailer - Esprit To Exit India By Year End
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At a time when India opened up the gates of FDI into multi-brand and single brand retail, there comes Esprit’s plan to exit the Indian market by the end of 2012.

It operates in India through a distribution agreement with Madura Fashion and Retail, Aditya Birla Group’s lifestyle retailer, since 2005.

Esprit had been incurring losses of around R20-25 Cr per annum.

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