VF Goes to India
Greensboro, N.C.–based manufacturing powerhouse VF Corp. is going to India. The company, which produces apparel under several labels including Lee and Wrangler, has struck a joint venture deal with Arvind Mills Ltd. to design, market and distribute VF brands in India. The agreement initially includes apparel with the Lee, Wrangler, Nautica, JanSport and Kipling brands. In the past, the five brands have been marketed and distributed in India through agreements with Arvind Fashions, a subsidiary of Arvind Mills. The new agreement allows for additional VF brands to be promoted in India in the future. VF will retain a 60 percent ownership stake in the joint venture. Currently, VF does about $40 million in wholesale business in India. Under the new agreement, the company expects that to grow by more than 25 percent per year. Darshan Mehta, president of Arvind Brands, has been named chief executive officer of VF Arvind Brands Private Ltd. Eric Wiseman, VF Corp. president and chief operating officer, will serve as chairman of the joint venture company. It will be based in Bangalore, India.
