USA: VF To Acquire Gitano Brand
VF Corporation (NYSE: VFC) announced today that it has received bankruptcy court approval to acquire the trademarks and inventory of the Gitano brand from Fruit of the Loom, Inc for approximately 18 million dollars."Gitano rounds out our portfolio of jeans brands that are specifically targeted to women shopping at mass merchandise stores," said Mackey J. McDonald, president and chief executive officer of VF Corporation. "The Gitano and Chic brands, together with a growing Wrangler and Riders women's business, give us the ability to offer a variety of brands and products at a range of price points to female consumers." The Gitano brand will become part of VF's mass jeanswear operation.
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