Tommy Hilfiger buys Murjanis 50% in Arvind JV

American fashion retailer PVH Group,which owns Tommy Hilfiger brand or THG,has purchased Murjani Groups 50 per cent stake in Arvind Murjani Brands or AMB for an undisclosed sum,a move that could bring many THG brands into India.

According to a person directly involved in the deal,the American company has paid approximately Rs 400 crore. Tommy Hilfiger has a sales of around Rs 200 crore in India. Arvind Limited,owned by Sanjay Lalbhai will continue to own the remaining 50 per cent stake.

The deal includes the purchase of Murjanis licence for the Tommy Hilfiger trademarks in India. AMB has been the apparel sub-licensee of Tommy Hilfiger after in India since 2004.

This partnership gives us the license to retail every THG product, said Sanjay Lalbhai,MD and CEO,Arvind. FE