Ferragamo to set up 10 new stores in India

New Delhi: Salvatore Ferragamo, luxury Italian fashion group, has announced a new joint venture agreement with the DLF Group. The Italian company plans to open 10 new stores in the next five years throughout India. In 2008 alone, the company will open stores in major cities such as New Delhi, Bangalore and Mumbai. Salvatore Ferragamo has been present in India since 2005. Ferragamo, which only has one store in India, would hold 51 per cent of the joint venture, while DLF Group will h old 49 per cent.