Accordingly, Trent will manage the Italian group’s three Sisley stores in New Delhi that sell premium garments and expand the stores up to 30 in next two to three years. 
“We are looking at India with a lot of optimism,” said Benetton Group Executive Deputy Chairman Alessandro Benetton.  He also indicated that the Italian Group will spend up to $12 million over next 5-7 years to boost the number of stores. Under the alliance, Trent will open and look after the management of Sisley stores across key cities and the first of which will roll out in Hyderabad and Bangalore in the coming months, after three stores in Delhi.
Strategic partnership
The agreement comes only a few months after the launch of Sisley’s first three pilot stores in Delhi. The stores will be directly managed by Trent. Sisley has over 850 stores worldwide.
The stragetic partnership will help Benetton Group increase its presence in the country. It has over 141 United Colors of Benetton shops across India. The Tata Group on the other hand, has over a decade experience in the retail industry with 39 stores in three formats targeting the value/mid-market segment through Westside departmental stores, books and music retail chain Landmark and Star Bazaar.
India’s fast-growing retail market is projected to double in size to about $700 billion by 2015.  But foreign multiple-brand retailers are limited to wholesale and franchise operations, while single-brand retailers can take up to 51 per cent in a venture with a local partner.
The Italian group, which currently operates 140 United Colors of Benetton stores in India through franchisees, has seen its India revenue growing 70 per cent annually, Mr Benetton said.
“Indian market is the fastest growing market for Benetton at the moment,” he said adding that Benetton will bring more brands to the Indian market gradually, as rising income levels create demand for premium products.