ISFA and VFLN announce strategic MoU to strengthen franchise and MSME operations in India and Vietnam
The Indian Small Business & Franchise Association (ISFA) and the Vietnam Franchising & Licensing Network (VFLN) have signed a strategic Memorandum of Understanding to advance franchise development and support Micro, Small, and Medium Enterprises in both countries.
Signed by ISFA chairman Gaurav Marya and VFLN chairwoman Nguyen Phi Van, the MoU marks the beginning of a cross-border collaboration aimed at enhancing bilateral trade, encouraging innovation, and enabling entrepreneurs to explore new markets in India and Vietnam, the organisations announced in a press release. The partnership outlines key areas of cooperation including franchise development tailored for MSMEs, joint training programmes, improved market access, and information exchange. Curated networking initiatives and business forums are also planned to support brand expansion and value creation through collaboration.
'This collaboration with VFLN reflects our mission to globalise Indian MSMEs through meaningful partnerships," said Gaurav Marya in a press release. "Vietnam is an emerging and dynamic market, and this MoU is a stepping stone towards greater economic synergy between our nations."
The five-year MoU excludes financial obligations, with both organisations independently bearing costs. It also ensures protection of intellectual property, maintaining respect for trademarks, logos, and proprietary content across all activities.
'Vietnam and India share strong business potential," said Nguyen Phi Van. "Through this MoU, we aim to create an ecosystem where brands, entrepreneurs, and small businesses can scale internationally with confidence."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
13 hours ago
- Fashion Network
Swiss Military opens its first exclusive brand outlet in India
Swiss Military, a global lifestyle brand has expanded its presence in the Indian market with the launch its first-ever exclusive brand outlet (EBO) in the country. The store located in Surat, Gujarat marks a significant milestone for the brand in India, where it has already established over 4,000 retail touchpoints across cities. Commenting on the launch, Anuj Sawhney, managing director at Swiss Military India in a statement said, 'The launch of our first exclusive brand outlet in India is a defining moment in Swiss Military's global expansion. India stands at the centre of our vision for the future - a dynamic economy with consumers who appreciate premium quality while demanding thoughtful innovation and genuine value.' 'The brand's decision to launch in Surat stems from the city's strategic importance within Swiss Military's growth trajectory in the region. Surat has consistently emerged as one of the brand's top-performing markets,' he added. Swiss Military diverse portfolio spans across categories that includes travel gear, small consumer appliances, and apparel. It retails through its stores, online marketplaces and quick commerce platforms.
Fashion Network
14 hours ago
- Fashion Network
Malabar Gold & Diamonds eyes lab grown diamond market for growth
Malabar Gold & Diamonds is exploring opportunities in the lab grown diamond segment as part of its strategy to sustain growth amid rising gold prices. The Kerala-based jewellery retailer is aiming for a 20% revenue increase in the current financial year, following revenues of Rs 62,000 crore in the 2025 fiscal. "We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different," said Malabar Group's chairman M P Ahmmad, ET Retail reported. With lab grown diamonds emerging as a cost-effective alternative, the company is tapping into the segment to broaden its appeal and offset gold price volatility. Malabar plans to open 90 new outlets, 60 in India and 30 overseas, while also preparing for a stock market debut in the 2028 financial year. 'We are 100 per cent thinking of listing our company on the stock market,' said Ahmmad, India Retailing reported. Ahmmad added that legal work is underway to consolidate subsidiaries and LLPs ahead of the IPO. Malabar Gold currently operates 391 showrooms across 19 Indian states and international markets. To maintain affordability and retain customers, the company is introducing lighter jewellery designs using different caratage without compromising appearance. 'We are coming out with different caratage and designing products without compromising the looks so that everyone can still afford gold jewellery,' said O Asher, managing director for Malabar's India operations.
Fashion Network
14 hours ago
- Fashion Network
Ikea plans to scale up India sourcing
Swedish home décor and furniture brand Ikea is set to increase its local sourcing in India from 30% to 50% for its domestic retail operations, a move that positions the country as a critical hub in the company's global supply chain and retail expansion plans. 'India is a focus market for us,' said Ikea's head of sustainability for supply at Inter Ikea Group Christina Niemel Ström, Indian Retailer Bureau reported. Ström added that the scale-up would support both local retail growth and employment generation across the value chain. India currently ranks among Ikea's top ten sourcing markets, contributing around € 400 million annually in exports. The current sourcing portfolio includes textiles, plastics, and metals, with upcoming expansion into sofas, mattresses, and storage furniture. 'We aim to increase local sourcing, create products in India for both domestic and global customers, and drive job creation across the supply chain,' said Ström. Ikea, which has sourced from India for over 50 years, entered the Indian retail market in 2018 and now operates stores in Hyderabad, Navi Mumbai, and Bengaluru, with new locations planned for Delhi NCR, ET Retail previously reported. Ikea's supply operations in India currently involve nearly 3.7 lakh workers, including those at Tier 2 supplier levels. The company also promotes sustainable cotton farming through partnerships with over 1.1 lakh farmers.
