Fossil India investing huge for single brand stores

Fossil India, the wholly-owned subsidiary of American lifestyle brand Fossil Inc, is investing Rs 25 crore in the country following regulatory approvals to set up single brand stores. The company is one of the first batch of global lifestyle brands that were issued clearances by the Foreign Investment Promotion Board, after the Indian government raised the foreign direct investment (FDI) limit in single brand retail to 100% last year. India mandates foreign retailers to have 30 percent local sourcing, which Fossil said it would adhere to by ramping up production capacity of its watch-manufacturing unit at Palwan in Himachal Pradesh. Fossil manufactures a range of lifestyle products that include watches, jewellery, sunglasses, and leather goods. Such new expansion step of Fossil India will be an added business opportunity for the signage players whose activities involve in in-shop branding, designs, displays and other related activities.