Tommy Hilfiger Group, which is wholly owned by PVH Corp., has completed a deal with the Murjani Group to acquire direct interest in the Hilfiger business in India.
The transaction includes the buyout of Murjani Group’s license for the Hilfiger trademarks in India and the acquisition of its 50 percent interest in Arvind Murjani Brands Pvt. Ltd. AMB has been the apparel sublicensee of the Hilfiger brand since 2004, when it was introduced in the Indian market. Arvind Ltd. is the other partner in AMB.
The reconfigured venture will continue its businesses going forward, as well as manage other sublicensees in India. Consequently, this establishes Hilfiger’s direct interest in India and builds upon a preexisting partnership with Arvind Ltd. Terms of the deal weren’t disclosed.
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Hilfiger’s products are distributed in India through a network of more than 80 freestanding stores and shop-in-shops in 30 cities such as New Delhi, Mumbai, Bangalore, Chandigarh and Hyderabad.
“India is an 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,” said Fred Gehring, chief executive officer of Tommy Hilfiger Group. “We believe that continuing the relationship will allow us to benefit from their expertise in the Indian apparel and manufacturing business, both with the Tommy Hilfiger brand, as well as other brands, including our sibling brands, Izod and Arrow.”
Mohan Murjani, chairman of the Murjani Group, partnered with Tommy Hilfiger in 1985 to launch his brand and company in the U.S. In 2004, the Murjani Group launched the Tommy Hilfiger brand in India as one of the first international designer lifestyle brands to enter that market. As part of the business, Murjani sublicensed apparel, footwear and handbags to AMB and, separately, sublicensed other product categories.