Arvind Brands and Retail Ltd, the Indian partner of the US-based fashion retailer Calvin Klein Inc, has picked Parag Dani to head the latter’s business in India, according to media reports.
Prior to this appointment, Dani was retail director at Levi’s.
Dani’s appointment comes in as Arvind Brands is in the process of restructuring and expanding the US company’s business in India, including increasing sales from smaller towns.
At present, the joint venture has an annual business turnover of around Rs 150 crore.
Calvin Klein India, which includes Calvin Klein Jeans apparels and accessories (including belts, bags, and small leather goods) and Calvin Klein Underwear (including sleepwear and loungewear) businesses, is likely to open around 15 new stores in Tier II cities like Coimbatore, Lucknow and Vijayawada.
Calvin Klein was among the first foreign brands to enter India in 2007 through its distribution partner Murjani Group. Last year, Arvind purchased the stake in the Calvin Klein JV from the Murjani Group and private equity firm Matrix Partners. (RKS)
Fibre2fashion News Desk - India