Hidesign has recently entered into a 50:50 joint venture with the Kishore Biyani-led Future Group, one of the biggest retailers of the country to launch its new brand. Holii will be exclusively retailed at Future Group's Pantaloon outlets.
The price range of the new brand is 30 per cent lower than the present Hidesign products with an average price of Rs 1,300 for a bag.
"Our new brand is a new concept and is very Indian in terms of its designs. We are targeting the modern Indian women in the non-corporate sector. Our products will be made of leather and fabric and not fabric alone," Hidesign's president, Dilip Kapur, told PTI here.
"Holii spotlights a handbag brand with a distinctive character. It creates a new world and invites women to create a more colourful projection of themselves and brings together all style and is a great fit for women who have a global outlook combined with strong Indian roots," he said.
Plans to invest up to Rs 12.5 crore for stake in Avanse