VF Corp. 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” said 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.”
Aidan O’Meara, pesident, VF Asia, noted: “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.”
O’Meara added that he does not expect any impact to jobs or changes in the day-to-day operations of the business in India. The new name of the wholly owned business in India has not yet been announced.
VF's top-six brands are The North Face, Wrangler, Timberland, Vans, Lee and Nautica; other brands include 7 For All Mankind, Eagle Creek, Eastpak, Ella Moss, JanSport, John Varvatos, Kipling, lucy, Majestic, Napapijri, Red Kap, Reef, Riders, Splendid and Smartwool.
