NEW YORK & BANGALORE, India--(BUSINESS WIRE)--Mar. 24, 2014--
PVH Corp. [NYSE: PVH], the owner of the Calvin Klein trademarks
worldwide, announced that Arvind Brands and Retail Limited, a subsidiary
of Arvind Limited, has replaced PVH’s prior joint venture partners in
Premium Garments Wholesale Trading Private Limited, the licensee of the Calvin
Klein trademarks in India. In connection with the transaction,
Calvin Klein, Inc., a wholly owned subsidiary of PVH, entered into a new
license with Premium Garments to distribute Calvin Klein Jeans
apparel and accessories and Calvin Klein Underwear products in
India.
This new arrangement takes advantage of PVH’s control of the brand
vision for these two Calvin Klein product categories resulting
from its acquisition of The Warnaco Group, Inc. in February 2013 and
Arvind’s operational expertise in the region, and is intended to
maximize the market opportunities for these product categories
throughout India.
The joint venture will focus on the expansion and enhancement of the
existing Calvin Klein Jeans apparel and accessories (including belts,
bags, and small leather goods) and Calvin Klein Underwear (including
sleepwear and loungewear) businesses.
PVH and Arvind are also partners in a joint venture that licenses PVH’s Tommy
Hilfiger brand in India.
“By having Arvind – a true leader in the Indian apparel industry and
established PVH business partner – join this venture, we believe we are
well-positioned to execute against and expand upon the growth strategy
for the Calvin Klein brand in India,” said Tom Murry,
Chief Executive Officer of Calvin Klein, Inc.
Mr. Sanjay Lalbhai, Chairman & Managing Director of Arvind
Limited said, “Calvin Klein is one of the strongest fashion
brands in the world and we are delighted to be JV partners with PVH for
Calvin Klein in India. This relationship also strengthens our 20
years association with PVH, which started with the ARROW license
and since has been extended to our joint venture with PVH for the Tommy
Hilfiger business and the license for IZOD”.
“Calvin Klein substantially strengthens our rich portfolio of
brands, said J. Suresh, Managing Director and CEO, Arvind
Lifestyle Brands Ltd. “By combining the strengths of the Calvin Klein
brand and Arvind’s operational capabilities in the Indian market, we
believe we can build Calvin Klein into India’s largest lifestyle
brand over the next five years.”
About PVH
PVH Corp., one of the world’s largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world’s largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen,
Calvin Klein, Tommy Hilfiger, IZOD, ARROW,
Warner’s and Olga, and its licensed brands, including Speedo,
Geoffrey Beene, Kenneth Cole New York, Kenneth Cole
Reaction, MICHAEL Michael Kors, Sean John, Chaps,
Donald J. Trump Signature Collection, JOE Joseph Abboud,
DKNY, Ike Behar and John Varvatos.
About Calvin Klein, Inc.
Calvin Klein, Inc. is one of the leading fashion design and marketing
studios in the world. It designs and markets women’s and men’s designer
collection apparel and a range of other products that are manufactured
and marketed through an extensive network of licensing agreements and
other arrangements worldwide. Product lines under the various Calvin
Klein brands include women’s dresses and suits, men's dress
furnishings and tailored clothing, men’s and women's sportswear and
bridge and collection apparel, golf apparel, jeanswear, underwear,
fragrances, eyewear, women’s performance apparel, hosiery, socks,
footwear, swimwear, jewelry, watches, outerwear, handbags, small leather
goods, and home furnishings (including furniture). For more information,
please visit calvinklein.com.
About Arvind
Arvind Brands and Retail Limitied is a subsidiary of Arvind Ltd which is
India’s largest integrated textile player and is one of the oldest and
most respected groups in the Textile Business in India. Arvind is also
one of the largest producers of denim fabrics and is supplier to a large
number of fashion brands in the world. Arvind has been a pioneer in
bringing international brands to India and first brought ARROW to India
in the year 1993. Arvind has licensing relationships with many
international brands including Gant, ARROW, IZOD, US Polo
Association, Elle, Ed Hardy, Hanes, Cherokee, Mossimo and Geoffrey
Beene. Arvind also has a portfolio of 12 of its own brands. Arvind
also runs the India retail operations of British retailers Debenhams and
Next. Arvind has a JV with a subsidiary of PVH Corp. for the Tommy
Hilfiger business in India. It also runs India’s largest value retail
chain, Megamart.
PVH CORP. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Forward-looking statements made in this press
release, including, without limitation, statements relating to PVH
Corp.’s future plans, strategies, objectives, expectations and
intentions, are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements are inherently subject to
risks and uncertainties, many of which cannot be predicted with
accuracy, and some of which might not be anticipated, including, without
limitation, the following: (i) the Company's plans, strategies,
objectives, expectations and intentions are subject to change at any
time at the discretion of the Company; (ii) the levels of sales of the
Company's licensees at wholesale and retail, and the extent of discounts
and promotional pricing in which the Company's licensees and other
business partners are required to engage, all of which can be affected
by weather conditions, changes in the economy, fuel prices, reductions
in travel, fashion trends, consolidations, repositionings and
bankruptcies in the retail industries, and other factors; (iii) civil
conflict, war or terrorist acts, the threat of any of the foregoing, or
political and labor instability in any of the countries where the
Company's licensees' or other business partners' products are sold,
produced or are planned to be sold or produced; (iv) disease epidemics
and health related concerns, which could result in closed factories,
reduced workforces, scarcity of raw materials and scrutiny or embargoing
of goods produced in infected areas, as well as reduced consumer traffic
and purchasing, as consumers limit or cease shopping in order to avoid
exposure or become ill; (v) the failure of the Company's licensees to
market successfully licensed products or to preserve the value of the
Company's brands, or their misuse of the Company's brands and (vi) other
risks and uncertainties indicated from time to time in the Company's
filings with the Securities and Exchange Commission.
The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140324005749/en/
Source: PVH Corp.
PVH
Media
Calvin Klein, Inc.
Malcolm Carfrae
EVP
& Chief Communications Officer
+1 212-292-9799
malcolmcarfrae@ck.com
or
Investors
PVH
Corp.
Dana Perlman, +1 212-381-3502
Treasurer, Senior Vice
President – Business
Development & Investor Relations
investorrelations@pvh.com
or
Arvind
Lifestyle Brands Ltd.
J. Suresh, +91 80 41550672
Managing
Director and CEO
8th Floor, Du Parc Trinity
No. 17,
MG Road
Bangalore – 560001
sureshj@arvindbrands.com
