Tommy Hilfiger s/s 2012; photo credit: Dan Lecca
12 Sep. 2011
TOMMY HILFIGER ACQUIRES DIRECT INTEREST IN INDIAThe Tommy Hilfiger Group, owned 100% by PVH Group, announced that it has completed a transaction with the Murjani Group resulting in its acquisition of a direct interest in the Tommy Hilfiger business in India. The transaction includes the buyout of The Murjani Group’s license for the Tommy Hilfiger trademarks in India and the acquisition of its 50% interest in Arvind Murjani Brands PVte. Ltd. (AMB) that has been the apparel sublicense of the Tommy Hilfiger brand since its introduction in the Indian market. The other 50% of AMB are owned by Arvind Limited, a leader in the Indian apparel business. This move establishes the Tommy Hilfiger Group’s direct interest in India and builds upon a pre-existing partnership with Arvind Limited.
The joint venture is in line with similar actions the Tommy Hilfiger Group has taken in other international markets in support of its strategy of consolidating brand management and approaching markets in a more coordinated manner. Fred Gehring, CEO of Tommy Hilfiger Group, said: “India is a n important market for Tommy Hilfiger and we are fully committed to the continued growth and development of our business here. 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.”
Tommy Hilfiger products are distributed in India via a network of more than 80 monobrand stores and shop-in-shops in 30 cities including New Delhi, Mumbai, Bangalore, Chandigarh and Hyderabad.
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