Versace 19.69 Abbigliamento Sportivo, the Italian luxury brand for clothing entered into India through its partnership with the Majgenta Fashions, the apparel as well as leather exporter. Abbigliamento Sportivo laid its foundation first in 2001 and the person behind the company was Allessandro Versace.
As per the MoU signed, Versace 19.69 accepted that it would grant the license of trade name along with the trademarks to Majgenta Fashions so that the latter could manufacture as well as market the products on the behalf of as well as in the name of Versace 19.69 Abbigliamento Sportivo.
The brand would offer products under various categories such as accessories, jewellery, eyewear, home furnishings, cosmetics, footwear and of course, apparel.
The CEO of Versace 19.69, considered India as a crucial luxury market. The Managing Director & Partner of Majgenta Fashions-India in the meanwhile also declared that the company was now entitled to manufacture the products either on its own or via any third-party which was appointed by the company. The products would be sold in Versace 19.69’s name using the trademark as well as trade name through different formats of marketing such as franchising, outsourcing or sourcing.
Majgenta Fashions-India was also entitled to create Versace 19.69 as the source. Majgenta Fashions, India was also allowed to import or market in India through the stores which are set up by Majgenta Fashions either directly or through the franchisees.
In the first phase, however, there would be introduction of products under the categories of jewellery as well as eyewear. Thereafter by the end of 2013, there will be a whole range of products. By 2015, Majgenta Fashions would introduce around 70 stores in the country.