INDIA: PVH and Arvind team up on Calvin Klein businesses
PVH today (24 March) said Arvind Brands and Retail, a subsidiary of Arvind Limited, is its new partner in Premium Garments Wholesale Trading Private, the licensee of the Calvin Klein trademarks in India.
The deal has come about after Arvind bought out the stake in Premium Garments that was held by the Murjani Group and US-based private equity fund Matrix Partners.
"By having Arvind - a true leader in the Indian apparel industry and established PVH business partner - join this venture, we believe we are well-positioned to execute against and expand upon the growth strategy for the Calvin Klein brand in India," said Tom Murry, chief executive officer of Calvin Klein Inc.
The new arrangement capitalises on PVH's control of the brand vision for these two Calvin Klein product categories resulting from its acquisition of The Warnaco Group in February 2013 and Arvind's operational expertise in the region. It is intended to maximise the market opportunities for these product categories throughout India.
The joint venture will focus on expanding the existing Calvin Klein Jeans apparel and accessories (including belts, bags, and small leather goods) and Calvin Klein Underwear (including sleepwear and loungewear) businesses.
"This relationship also strengthens our 20-year association with PVH, which started with the Arrow license and since has been extended to our joint venture with PVH for the Tommy Hilfiger business and the license for Izod," added Sanjay Lalbhai, chairman and managing director of Arvind Limited.
"By combining the strengths of the Calvin Klein brand and Arvind's operational capabilities in the Indian market, we believe we can build Calvin Klein into India's largest lifestyle brand over the next five years," noted J Suresh, managing director and CEO, Arvind Lifestyle Brands.
Arvind Brands and Retail is a subsidiary of Arvind Ltd, India's largest integrated textile player and one of the largest producers of denim fabrics.
Arvind has been a pioneer in bringing international brands to India starting with Arrow in 1993, and now has licensing relationships with international brands such as Gant, US Polo Association, Elle, Ed Hardy, Hanes, Cherokee, Mossimo and Geoffrey Beene. PVH and Arvind are also partners in a joint venture that licenses PVH's Tommy Hilfiger brand in India.
The company also has a portfolio of 12 own brands, runs the India retail operations of British retailers Debenhams and Next, and operates India's largest value retail chain, Megamart.
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