The Warnaco Group, Inc. yesterday announced it has entered
into a new joint venture with
Brand Marketing India (BMI), its current distribution
partner in India, to market and distribute Calvin Klein
Underwear, Calvin Klein Jeans, Calvin Klein Jeans Accessories
and ck Calvin Klein branded apparel and accessories in India.
Warnaco will own 51 percent of the joint venture. In connection
with the joint venture, certain of Warnaco's license agreements
with Calvin Klein, Inc. were amended to add India to Warnaco's
licensed territories for Calvin Klein Jeans and Calvin Klein
Jeans Accessories, as well as for ck Calvin Klein branded
apparel and accessories.
This joint venture will strengthen the presence of the
Calvin Klein brand in
India and effectively position the business to capitalize on
the significant growth potential of the Indian market.
"This venture is consistent with our global growth strategies
to expand our profitable international business and our direct
to consumer footprint. 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,"
commented Joe Gromek, Warnaco's President and Chief Executive
Officer. "Brand Marketing India has been a great partner with us
for nearly six years and we look forward to working together to
replicate in India the success we have already achieved with the
Calvin Klein brand in other emerging markets, such as
Vijay Murjani, Chairman and Managing Director of Brand
Marketing India, has been named Managing Director of the joint
venture. The business, which will be headquartered in Mumbai,
India, will employ approximately 160 associates.
"We are very pleased to further solidify our partnership with
Warnaco," said Vijay Murjani. "We are confident that our
experience, combined with the power of the Calvin Klein brand,
will ensure the continued growth and success of the business in
"Warnaco and Murjani have been strong partners and we are
confident that together they will drive revenue and work closely
with us to both protect and enhance the Calvin Klein brand image
in India," said Tom Murry, President & CEO of Calvin Klein, Inc.
The Warnaco Group, Inc.,
headquartered in New York, is a leading global apparel company
engaged in the business of designing, sourcing, marketing and
selling men's, women's and children's sportswear and
accessories, intimate apparel, and swimwear under such owned and
licensed brands as Calvin Klein(R), Speedo(R), Chaps(R),
Warner's(R) and Olga(R). For more information, visit warnaco.com.
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
and other arrangements worldwide. Brands/lifestyles include
Calvin Klein Collection, ck Calvin Klein, Calvin Klein, Calvin
Klein Jeans, and Calvin Klein Underwear. Product lines under the
various Calvin Klein brands include apparel, accessories, shoes,
sleepwear, hosiery, socks, swimwear, belts, eyewear, watches,
jewelry, coats, suits, fragrances, and cosmetics, as well as
products for the home. For more information, visit
ABOUT PVH CORP.
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, Bass and G.H.
Bass & Co., and its licensed brands, including Geoffrey Beene,
Kenneth Cole New York,
Kenneth Cole Reaction,
MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump
Signature Collection, JOE Joseph Abboud and
DKNY. For more information, visit pvh.com.
Learn more about