The Warnaco Group Inc. has forged a 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. As a result of the deal, certain Warnaco 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 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 [pleased] to expand our direct participation, operations and revenues in this critical market,” said 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 based in Mumbai, India, will employ about 160 associates.