VF Corp acquires Indian joint venture

VF Mauritius, a subsidiary of VF Corporation, the global

leader in branded lifestyle apparel, has acquired full ownership of VF Arvind Brands, a majority-owned joint venture between VF Mauritius and Arvind Limited formed in 2006 to market VF brands in India. Eric C. Wiseman, Chairman, President and CEO of VF Corporation explains, "Our business in India is strong, and now is the time to assume full ownership. Anchored by our Lee (R) and Wrangler (R) brands, the Indian market will provide a robust platform for future growth in the Asia-Pacific region."

Aidan O'Meara, President, VF Asia, opines, "VF is grateful for the contribution Arvind made to the development of a fast-growing and profitable business for our brands in India. VF and Arvind will continue to have a strong working relationship, now and in the future." He pointed out that new deal will not affect jobs or change the day-to-day operations of business in India. The new name of the wholly owned business in India has not yet been announced.

VF Corporation is a global leader in branded lifestyle apparel with more than 30 brands. The company's top-six brands are: The North Face, Wrangler, Timberland, Vans, Lee and Nautica. Other brands include 7 For All Mankind, Eagle Creek, Eastpak, Ella Moss, JanSport, etc.