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Warnaco establishes joint venture in India
12
Jul '11
The Warnaco Group Inc announced it has entered into a new joint venture with Brand Marketing India, its current distribution partner in India, to market and distribute Calvin Klein Underwear, Calvin Klein Jeans, Calvin Klein Jeans Accessories and ck Calvin Klein branded apparel and accessories in India.

Warnaco will own 51 percent of the joint venture. In connection with the joint venture, certain of Warnaco's license agreements with Calvin Klein, Inc. were amended to add India to Warnaco's licensed territories for Calvin Klein Jeans and Calvin Klein Jeans Accessories, as well as for ck Calvin Klein branded apparel and accessories.

This joint venture will strengthen the presence of the Calvin Klein brand in India and effectively position the business to capitalize on the significant growth potential of the Indian market.

"This venture is consistent with our global growth strategies to expand our profitable international business and our direct to consumer footprint. India is expected to be a key driver of long term growth and we are excited to expand our direct participation, operations and revenues in this critical market," commented Joe Gromek, Warnaco's President and Chief Executive Officer. "Brand Marketing India has been a great partner with us for nearly six years and we look forward to working together to replicate in India the success we have already achieved with the Calvin Klein brand in other emerging markets, such as China and Brazil."

Vijay Murjani, Chairman and Managing Director of Brand Marketing India, has been named Managing Director of the joint venture. The business, which will be headquartered in Mumbai, India, will employ approximately 160 associates.

"We are very pleased to further solidify our partnership with Warnaco," said Vijay Murjani. "We are confident that our experience, combined with the power of the Calvin Klein brand, will ensure the continued growth and success of the business in India."

"Warnaco and Murjani have been strong partners and we are confident that together they will drive revenue and work closely with us to both protect and enhance the Calvin Klein brand image in India," said Tom Murry, President & CEO of Calvin Klein Inc.

The Warnaco Group Inc

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