PVH, Arvind may join hands for Calvin Klein in India

With the aim of strengthening its portfolio of international

brands, Arvind is said to be negotiating for a deal with Philip Van-Heusen Corp (PVH) to pick up 49 percent stake in designer denim brand Calvin Klein. The move comes after the American clothing giant acquired the denim brand for 2.9 billion dollars (over Rs 12,000 crores), a year ago. As per media reports, Calvin Klein, currently in a joint venture with the Murjani Group and venture capital firm Matrix Partners India, who together hold 49 percent stake, is looking at creating a strong position in India through the new partnership deal.

Arvind on its part is racing ahead with its aim to become a billion dollar company by taking over another high-end label under PVH. It already holds India rights for brands like Arrow and IZOD through Arvind Lifestyle Brands apart from owing a 50 percent stake in Tommy Hilfiger's India unit. Sources say PVH may club Tommy Hilfiger and Calvin Klein operations in India under a single joint venture with Arvind.

After acquiring India operations of three major international apparel brands Debenhams, Next and Nautica, Arvind has indicated its strategy to grow big in the organised apparel market. Arvind Lifestyle Brands, a subsidiary of Arvind, already has an impressive line-up of brands comprising Tommy Hilfiger, US Polo Assn, Elle, Geoffrey Beene, Arrow among others.