American brand DKNY likely to exit Indian market

By

Maverick Martins

Published
Feb 10, 2017

American premium fashion brand DKNY is likely to exit the Indian market after failing to find the profit making formula to capture the market in the country.

Several mall executives and DKNY store managers have confirmed the development, though the head of its India franchisee, DLF Brands, denied the company was completely exiting the country according to a report in the Economic Times.

“DKNY is packing and exiting India,” said a top executive of a mall in New Delhi, where the brand closed its store recently.

Timmy Sarna, head of DLF Brands, said the company has closed “a few” stores but will continue to operate four outlets — all in DLF-owned malls in the National Capital Region. “We are continuing with four stores and have shut two loss-making stores. There was one in Kolkata and one in Mumbai which we shut,” he said.

However, the DKNY outlet in DLF’s Mall of India in Noida – among the ones which Sarna said will continue to operate – is closing, according to sources. Same is the case with DLF Place Mall in Saket, where the DKNY outlet is shuttering in March, according to another source.