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Arvind acquires stake in Calvin Klein

Aims for Rs 500 business from CK India

Tags: retail, retailer, news, Arvind, Calvin Klein

March 25, 2014  |  comments ( 0 )  | 
Arvind acquires stake in Calvin Klein   Arvind Brands has entered into a JV with the global icon Calvin Klein by acquiring the 49 per cent stake held by Murjani Group in Calvin Klein India for Rs 88 crore. J Suresh, Managing Director, Arvind Lifestyle Brands, said, “It is a huge opportunity for Arvind and we would become a leading player in the ‘bridge-to-luxury’ segment.”  Suresh also highlighted that they are aiming for a turnover of Rs 500 crore from this global brand, nearly three time the current sales. This JV is also planning to add 50 stores over the next four years, and reach a distribution network of 90 outlets.

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