Arvind Brands has got the exclusive rights to market Calvin Klein products in India, according to a deal that transpired in March last year. To take it up further, Arvind Brands will be opening 25 Calvin Klein standalone innerwear outlets in three years as the brand sees the category growing by 25-30 per cent annually.
Arvind Brands will also launch Calvin Klein's formal and casual wear by mid-2016. "We plan to open 20-25 standalone Calvin Klein underwear outlets in three years. Underwear category in India is pegged at USD 1.2 billion and we expect the segment to grow by 25-30 per cent for the next few years," Arvind Lifestyle Brands Managing Director J Suresh said in a statement to PTI.
Arvind Brands is targeting around Rs 175 crore turnover this year from innerwear portfolio from all its brands put together. Arvind Brands also markets innerwear of US Polo and US-based Hanes.
Phillips-Van Heusen Corporation (PVH Corp), which owns Calvin Klein, has been running a 51:49 joint venture – Premium Garments Wholesale Trading - in the country. Arvind Brands bought out Murjani family's 49 per cent stake in the JV in March last year.