mumbai dlf is revving up its fashion retail play after a hiatus dlf brands a subsidiary of the new delhi basedreal estate major is poised to strike fresh joint ventures with three international lifestyle brands forever 21 beverly hills polo club and kiko dlf is expected to form a 5149 joint venture with american fast fashion retailer forever 21 which competes with its bigger spanish rival zara but has a more affordable price tag the indian property developer is likely to structure a 7426 jv with beverly hills polo club bhpc which is present in india through rpg groups spencer retail bhpc will be revamped and relaunched by dlf in a new avatar details of its proposed alliance with italian skincare and cosmetic brand kiko could not be ascertained the billionaire k p singhled dlf had downsized its fashion business including some proposed mall developments in the wake of the 2008 global financial crisis but the realty company has hit the fashion circuit to clinchnew deals with brands to ride the lifestyle consumption that remains robust dlf brands ceo dipak agarwal refused to comment on specific alliances but said the unit was looking to add new brands to its existing portfolio dlf brands is targeting rs 1000 crore of revenue in the next three years he added the los angelesbased forever 21 along with dlf plans to open between 30 and 40 stores in the next five years with five store locations already signed up said a source who declined to be identified since talks are private the strategy is to use aggressive pricing to take on zara which currently operates eight stores through a jv with the tata group firm trent forever 21 entered india in 2010 through a middle eastbased group sharaf retail but has just one store in delhi many foreign retailers including uks debenhams next and luxury brands such as armani have changed their local partners to accelerate growth and expansion in a key growth market the indian government cleared proposals to allow 100 fdi in single brand retail and 51 foreign investment in supermarkets in recent weeks reviving the interest of global retailers the privately held dlf brands operates 150 singlebrand stores for international brands including mothercare boggi ferragamo and dkny among others through jvs or longterm franchise deals and directly competes with mukesh ambaniowned reliance brands aditya birlas madura lifestyle fashion and arvind ltd dlf also operates its own retail formats home furnishing chain pure home and living and the recently launched department store chain avenue we will also expanding our avenue brand by entering the value format with avenue mart across cities such as meerut patiala and raipur in the next month agarwal said triple foray new delhibased realty giants unit dlf brands plans to form jvs with forever 21 beverly hills polo club bhpc kiko dlf may form a 5149 venture with forever 21 the us fast fashion retailer which wants to open 40 stores