|
|
|
|
|
5th Muharram 1436 | Saturday, Nov 01, 2014
Business

Arvind buys Calvin Klein licence for Rs 180 crore

Tuesday, 25 March 2014
Comments(0)
Mumbai, March 25:

Arvind Brands has bagged rights to market Calvin Klein products in the country by buying 49 per cent stake in Premium Garments Wholesale Trading, a licensee for the PVH Corp’s premium fashion brand in India, for Rs 180 crore.

Arvind already markets three main PVH brands namely Arrow, Tommy Hilfiger and Izod in the country.

CK, which is owned by Phillips-Van Heusen Corporation (PVH Corp) has been running a 51:49 joint venture in the country with the Murjani family under a trading company named Premium Garments Wholesale Trading, in which US-based private equity fund Matrix Patners also held some stake.Arvind would now also market Calvin Klein branded jeans, accessories as well as CK-labelled underwear and lounge wear.

Arvind Brands MD and chief executive J Suresh said that the deal was closed for a consideration of Rs 180 crore.

He said that for the time being the joint venture would continue to be called Premium Garments, which was the licensee of Calvin Klein’s trademarks in the country.PTI

Latest News

TVS Motor logs 22 percent sales growth

Two and three wheeler maker TVS Motor Company Ltd Saturday said its October sales went up by 22 percent as compared to corresponding period ...

Dutch investigators find more human remains at MH17 crash site

Dutch investigators have reportedly found more human remains at the MH17 crash site in eastern Ukrai ...

Audi recalls 6,758 A4 sedans in India

Luxury carmaker Audi is recalling 6,758 units of A4 sedans in India, manufactured between November 2011 and October 2014 ...

Related News

India cuts gold, silver value to ascertain import duty

With the prices of both global and silver declining sharply in the global markets, India has slashed ...

'Industry lacks awareness of IP creation benefit'

Indian industry lacks awareness of the benefits of intellectual property (IP) creation and enforceme ...

Gold bounces on low-level buying; silver hits 4-year low

Gold prices witnessed a modest rebound after six sessions of uninterrupted slide at the domestic bul ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26020 (Per 10g)

Opinion Poll
Do you think formation of 'She' teams would be beneficial for women's safety?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com