Caleffi in JV pact with Technopak promoters

ITALIAN home linen brand Caleffi is all set to enter Indian homes. Caleffi SpA, the Viadana, Italy-based maker of bed linen and towels, has forged a joint venture — Caleffi Bed & Bath India Pvt Ltd — with Arvind Singhal and Harminder Sahni, the promoters of consultancy Technopak Advisors, for distributing its products in India. The $80-million company holds a 51% stake in the JV company. Caleffi SpA makes comforters, cushions, duvet covers and bathroom towel sets, apart from Disney licensed nightwear for kids in the 4-14 age group. “It is a distribution joint venture which would bring together Caleffi’s capabilities and experience and Technopak’s understanding of the Indian retail market,” said Caleffi sales and marketing director Valerio Pizzi. Caleffi Bed & Bath would initially launch its bed sheets and comforters, followed by bathroom towels, duvet covers and other products in winter. The products are imported from Italy and are priced on the higher side — a double bed sheet costing about Rs 1,795. These would be retailed at home textile stores and department stores like Lifetsyle and Shoppers’ Stop.

Courtesy: EconomicTimes