INDIA: Tommy Hilfiger buys 50% stake in Arvind JV
The Tommy Hilfiger Group has bought a 50% share in the joint venture which represents its products in India, paying an undisclosed sum to previous stakeholder Murjani Group.
The deal sees Netherlands-based Hilfiger – now part of the PVH corporation – partner with local operation Arvind Limited in the ownership of Arvind Murjani Brands Pvte Ltd (AMB).
AMB has been the apparel sub-licensee of the Tommy Hilfiger brand since it was introduced into the Indian market in 2004, and will continue its existing businesses, as well as taking on the management of other sub-licensees in India.
Tommy Hilfiger said the move was “in line with other similar actions the Tommy Hilfiger Group has taken in other international markets”, supporting its strategy of consolidating brand management and approaching markets in a more co-ordinated way.
“India is an important market for Tommy Hilfiger and we are fully committed to the continued growth and development of our business here,” said Fred Gehring, Tommy Hilfiger Group CEO.
“The transaction allows us to integrate India into our global platform for design and sourcing, ensuring consistency of the brand while providing dedicated regional expertise where needed.”
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