VF buys out joint-venture partner in India - sportstextiles: Lea SportsTextiles

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VF buys out joint-venture partner in India

02/11/2011
Branded lifestyle apparel group VF Corporation has acquired full ownership of VF Arvind Brands, the joint venture it formed in 2006 with Arvind Limited in India.

“Our business in India is strong, and now is the time to assume full ownership,” said Eric C. Wiseman, VF Corporation’s chief executive. "The Indian market will provide a robust platform for future growth in the Asia-Pacific region.”

Aidan O'Meara, the group’s Asia president, 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.”

He added that he does not expect any impact on 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.


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