M&A

M&A

BrandMan Retail takes over American apparel brand New Balance in India

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Delhi-based BrandMan Retail has acquired the retail arm of American sportswear brand New Balance in India. The retail solutions provider will represent the company's presence in India via omnichannel retail, taking over from its earlier India partner, Major Brands. New Balance sells products like performance-oriented shoes and apparel. BrandMan has already set up retail stores for the company in Select Citywalk mall in Delhi, Mall of India in Noida and Alpha One Mall in Ahmedabad. New Balance will further grow its presence across India with key retail players like Shoppers Stop and Lifestyle, among others. They will likely have 35 points of sales across India before the end of FY22. The company will also retail online. New Balance is headquartered in Boston, Massachusetts and reported a revenue of USD 4.5 billion in 2018.