Wacoal Corporation (Wacoal), a globally renowned brand in intimate apparel, formed a single-brand retail joint venture with Periwinkle Fashions Private Limited (Periwinkle) in India. This strategic move allowed Wacoal to establish a robust presence in the Indian retail market and leverage Periwinkle’s expertise in the local market. Majmudar & Partners acted as the legal advisors for Wacoal, providing support with regulatory compliance and structuring the joint venture agreement to ensure alignment with Indian laws, including foreign direct investment norms on single brand retail trading.
Facilitating the Transaction
Majmudar & Partners’ key contributions included:
- Structuring the Joint Venture Agreement: Ensured the joint venture agreement complied with Indian regulations on single-brand retail trading, allowing Wacoal to effectively establish its presence in the Indian market.
- Regulatory Compliance: Counselled Wacoal on the foreign direct investment norms applicable to the sector and advised on efficiently structuring Wacoal’s ownership to meet Indian policy requirements.
- Drafting and Negotiating Key Agreement: Drafted and negotiated the shareholders’ agreement and other transaction documents to capture Wacoal and Periwinkle’s interests in a balanced manner.
- IP Protection and Brand Alignment: Ensured that Wacoal’s intellectual property and brand identity were protected, adapting the transaction documents to align Wacoal’s global standards with India’s regulatory framework.
The partnership between Wacoal and Periwinkle represents a key step in expanding Wacoal’s footprint in India’s dynamic retail market. Majmudar & Partners’ legal expertise in joint ventures and FDI compliance played an important role in ensuring the successful formation of this partnership, setting Wacoal up for growth in the Indian market.
With extensive experience in facilitating cross-border retail joint ventures, Majmudar & Partners provides strategic legal counsel for global brands entering India. Contact us to learn how we can help structure and support your business expansion in India.