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Arvind likely to ink deal with Italian label
30
Apr '10
Nearing its three-year long wait to retail a foreign denim brand in India, Arvind Brands is nearing the closure of a deal with an Italian menswear label, Energie.

According to a senior official, since four months, the Rs 2.3 billion subsidiary of Arvind Mills that retails foreign brands such as Arrow and Izod, has been in talks with Italian Fashion firm, Sixty Group, which owns Energie.

Although, CEO, Arvind Brands & Retail, Mr J Suresh, confirmed their talks with Sixty Group to fibre2fashion, but declined of a decision being made as yet on the deal. For now, Mr Suresh said, Arvind is following for a licensing agreement for Energie, which includes producing products in India.

In its portfolio, Energie also includes fashionable denim-wear brands for women such as Baracuta, Murphy & Nye, Miss Sixty, Killah Refrigiwear and Richlu. With a production deal, Energie will have more room to tag their apparels with attractive prices catering to the Indian market.

With the help of Energie, Arvind intends to enter the high-end and luxury denim-wear segments with rates starting at around Rs 3,500 per pair of jeans. Though it is said that, Energie is likely to be a cut above Levis Strauss in India, it still operates at a lower price range than Diesel, which is priced at about Rs 8,000.

Sixty Groups', Energie was launched in 1989 and since its inception, with the help of its powerful design concepts and its capacity to experiment among other denim brands, has always set and maintained its benchmark.

Fibre2Fashion News Desk - India


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Courtesy: Business wire

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