The board of directors of Koutons Retail India, at its meeting held on Jan. 08, 2008, decided to invest up to Rs 120 million for acquiring 51% or more stake in Touchwood International through its subsidiary DBG Retail Holdings.
The company will finance the aforesaid acquisition via a part of IPO proceeds meant for general corporate purposes or out of the internal accrual of the company.
Touchwood International is the owner of `upper class` brand, which has presence in the ladies and gents segment.(My Iris)