BRAZIL: Tommy Hilfiger inks distribution joint venture
Premium lifestyle brand Tommy Hilfiger is joining forces with Brazil-based Inbrands to distribute its products in the country.
The joint venture between the two companies, Tommy Hilfiger do Brasil, will will begin its wholesale and retail operations in January next year. Inbrands, a publicly held company with no shares registered for trade, will handle the day-to-day operations of the joint venture.
Terms of the joint venture were not disclosed.
American Sportswear (ASSA), the current distributor for the Tommy Hilfiger brand in Brazil, will also have a minority stake in the partnership. It will continue to operate the Tommy Hilfiger businesses in all other countries in South America, Central America and the Caribbean.
"This move allows us to directly support the development and expansion of our retail and wholesale business in Brazil," said Tommy Hilfiger Group CEO Fred Gehring.
"Similar to our expansion strategy in other markets, this partnership will allow for accelerated growth in one of the world's most exciting, high growth emerging markets."
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