NEW YORK — With India’s economy booming, Calvin Klein Inc. is looking to make its mark in the potentially lucrative market.
CKI has inked a distribution and retail store license deal with Murjani India Ltd. As part of the exclusive agreement, Murjani will distribute ck Calvin Klein and Calvin Klein Jeans apparel and accessories in India, and open licensed stores throughout the region. Murjani has signed a separate distribution and retail deal with the Warnaco Group for Calvin Klein Underwear, for which it has the global rights.
The agreement will spread the Calvin Klein name across India: Over 40 freestanding ck Calvin Klein, Calvin Klein Jeans and Calvin Klein Underwear units are planned there over the next five years. Stores could open as early as next spring, according to a company statement.
“There are more than a billion people [in India],” said Tom Murry, CKI’s president and chief operating officer. “The economy is growing quickly and the affluence is rising. We really wanted to be established in India and get ready for the growth that we anticipate in that market over the next five years.”
According to Murry, there was previously “a very limited” Calvin Klein business in India, focused mostly on fragrances and watches. “We haven’t had a big presence,” he said. “We waited until we had found a brand manager we can trust.”
Murjani is known for developing such brands as Gloria Vanderbilt and Tommy Hilfiger in India, and this year, the company has boosted its portfolio by entering partnerships with the likes of Gucci, Jimmy Choo and Tumi. “This is yet another big step toward our objective of providing a world class brand experience to the Indian consumer,” Vijay Murjani, managing director of the Murjani Group, said in a statement.
CKI also hopes to bring Collection stores to the region. The biggest challenge in India, Murry noted, is to find the right sites. “We want to make sure we are in the right location,” he said. “This is a long-term strategy for us over the next five to 10 years and a very important part of our business.”