Italian luxury apparel and footwear brand Salvatore Ferragamo SpA has setup a 49:51 joint venture with Indian real estate major DLF, to set its foot on the Indian soil.

The JV Company christened “Ferragamo Retail India”, will take over the only existing store of Ferragamo in the country in Mumbai. The brand earlier had a franchise agreement with Sports Station India.

The JV company plans to set up at least three stores in Delhi, Mumbai and Bangalore in 2008 and add another 10 across the country over the next five years.

Ferragamo’s collection includes men’s shoes, accessories, scarves, ties, eyewear, watches, fragrances, ready-to-wear and handbags.