Licensing Plus director GP Singh told reporters on Thursday that the company has received the Reserve Bank of India's (RBI) approval for bringing in foreign equity. Singh said it will be the first of its kind which would help a foreign company to find out a domestic licencee for its products.

To begin with Licensing Plus plans to launch Beverly Hills Polo Club, Hang Ten and Gasoline in the country, which are otherwise the worldwide client of LeeWalsh. Licensing Plus plans to widen its operational base in terms of acquiring licences for companies dealing with apparel, footwear, textile homewares, ceramics, hair care, gift items and stationery, Singh said.

The joint venture company expects to have a turnover of Rs 150 to 200 crore over the next five years, he said. Singhsaid the company's responsibility will not cease with acquisition of licences but also to see whether the licencees are meeting the international quality standards of the owner of the actual brand. Licensing Plus will not only help the foreign companies to find the appropriate licensee but also help the latter to position the brand, market it and in setting up manufacturing base in the country.