VF Corporation, a global leader in branded lifestyle apparel, has announced that its subsidiary, VF Mauritius, has acquired full ownership of VF Arvind Brands Private Limited, a majority-owned joint venture between VF Mauritius and Arvind Limited formed in 2006 to market VF brands in India.
“Our business in India is strong, and now is the time to assume full ownership," says Eric C. Wiseman, Chairman, President and CEO of VF Corporation. "Anchored by our Lee and Wrangler brands, the Indian market will provide a robust platform for future growth in the Asia-Pacific region," he added.
Aidan O’Meara, President, VF Asia, said, “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.”