Parag Dani to head Calvin Klein’s India business

Arvind Brands and Retail, which has inked a deal with American fashion retailer Calvin Klein to retail its product portfolio in India, has roped in Parag Dani to head its business in the country. Prior to assuming this role, Dani was retail director at Levi’s.

After PVH Corp, the owner of the Calvin Klein trademarks worldwide and Arvind announcement the deal, the latter decided to focus on expansion and enhancement of existing Calvin Klein Jeans apparels and accessories (including belts, bags, and small leather goods) and Calvin Klein Underwear (including sleepwear and loungewear) businesses in the country. The joint venture deal would assist Lalbhai-led Arvind to grow its business in the mid-premium segment. The move came after the American clothing giant Philip Van-Heusen Corp (PVH) acquired the denim brand for 2.9 billion dollars (over Rs 12,000 crores), a couple of years ago.

Arvind is also said to be eyeing acquisition of Indian operations of cosmetics and beauty retailer Sephora, owned by French luxury conglomerate LVMH Moet Hennessy Louis Vuitton. The brand is currently being retailed in India by DLF Brands. Sources claim that Arvind and Sephora in the final stages of cracking a deal that would see the former acquiring rights to manage operations and four existing stores in New Delhi and Pune with Rs 100 crores revenue this fiscal. Arvind would focus on expanding Sephora’s retail presence by opening 50 stores.

Arvind Lifestyle Brands, subsidiary of Arvind, which already has an impressive brand line-up comprising Tommy Hilfiger, US Polo Assn, Elle, Geoffrey Beene, Arrow, Calvin Klein aims to achieve a revenue target of Rs 175 crores from combined innerwear portfolio of Calvin Klein, US Polo and Hanes, this year. Even, American lifestyle brand Gap and The Children’s Place have formally announced their partnership with Arvind to open stores in India.