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Grendene SA Signs Memorandum of Understanding with Jelly Ltd for Brand Acquisition and New Stores Establishment


Monday, 16 Jul 2012 04:56pm EDT 

Grendene SA (Grendene) announced that on July 16, 29012 it signed a memorandum of understanding with franchiser Jelly Ltd (Jelly) who will act as master franchisee of Grendene. Jelly has 42 franchised stores under its management in 23 Brazilian states with the total sales area of 1,850 square meters and sells the Melissa brand shoes only owned by Grendene. The stores will become part of the Melissa franchises network which will add 150 stores in a five year time. Jelly will open Melissa stores through sub-franchisees in the minimum number of 100 by 2017. In turn, Grendene will become the final and exclusive owner of the Jelly brand. 

Company Quote

14.1
0.2 +1.44%
17 Apr 2014