INDIA: Warnaco eyes growth with new joint venture
The new agreement with Brand Marketing, Warnaco's current distribution partner in India, covers Calvin Klein Underwear, Calvin Klein Jeans, Calvin Klein Jeans Accessories and ck Calvin Klein branded apparel and accessories.
Some of Warnaco’s license agreements with Calvin Klein Inc have also been amended to add India to its licensed territories.
Headquartered in Mumbai, the new venture will be 51% owned by Warnaco and employ around 160 staff. Its managing director is Vijay Murjani, chairman and managing director of Brand Marketing India.
"This venture is consistent with our global growth strategies to expand our profitable international business and our direct to consumer footprint," said Warnaco's president and CEO, Joe Gromek.
"India is expected to be a key driver of long term growth and we are excited to expand our direct participation, operations and revenues in this critical market."
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