Pantaloon Retail India Ltd (PRIL) has officially pulled out of Gini & Jony, a children’s wear brand and one of the first brands that Kishore Biyani, MD of Pantaloon had invested in. Sources report that while the financial arrangement with Gini & Jony will continue, it will break off all operational ties.Pantaloon had invested in the company with the thought that it would “drive business on its own” but unfortunately, it has not been able to work in a cohesive manner with Pantaloon and become dependant on it. Ultimately Pantaloon had to even depute top management, including the CFO to take care of it’s functioning.
Monday, March 19, 2007
Source: The Economic Times

Add bookmark to:  | | | | | | | | | | | | |