Tommy Hilfiger Group Acquires Stake in Indian Apparel Retailer

Amsterdam-based Tommy Hilfiger Group has purchased a 50 percent stake in Indian apparel retailer Arvind Ltd.'s joint venture—Arvind Murjani Brands Pvt. Ltd.–from partner Murjani Group, according to www.wsj.com. Tommy Hilfiger, which was bought by clothing conglomerate PVH Corp. last year, also has acquired Murjani Group's license for Tommy Hilfiger trademarks in India. The financial details of the deal were not disclosed. Arvind Murjani Brands, an equal joint venture between Arvind and the Murjani Group, has the apparel sub-license for the Tommy Hilfiger brand in India. The reconfigured joint venture will continue its existing businesses, as well as take on