Indian Retailer Sells JV Stake To Hilfiger

Tommy Hilfiger Group has purchased a 50 percent stake in Indian apparel retailer Arvind Ltd.’s joint venture.

Tommy Hilfiger Group has purchased a 50 percent stake in Indian apparel retailer Arvind Ltd.’s joint venture, The Wall Street Journal reports. It will buy Arvind Murjani Brands stake from partner Murjani Group.

The U.S. company has also bought Murjani Group’s license for Tommy Hilfiger trademarks in India. The 50:50 joint venture will continue between Arvind Ltd. and PVH Corp., owner of Tommy Hilfiger, adds VC Circle.

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