Pantaloon-Lee Cooper to form JV

Pantaloon Industries Ltd said on Tuesday its subsidiary Indus-League Clothing will form a 50:50 joint venture company with Lee Cooper International Ltd to distribute and retail its brands in India.

The board of Indus-League Clothing approved the formation of JV company with Lee Cooper International to market and promote the 'Famous Basics' brand of eyewear and footwear, Pantaloon informed the Bombay Stock Exchange.

The JV company would distribute and retail products under the Lee Cooper brands in India from January 01, 2007, subject to necessary approvals, it added. The shares of the company closed at Rs 244, down 5.43 per cent on the BSE.

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