VF Corporation acquires Indian joint venture
The Indian market was developed jointly with the local partner, now that the business is thriving US VF Corporation is taking full control
VF Mauritius – a subsidiary of US VF Corporation – and Indian Arvind Limited formed 2006 a joint venture to market VF brands of lifestyle apparel in India. Eric C. Wiseman, Chairman, President and CEO of VF Corporation stated: “Our business in India is strong, and now is the time to assume full ownership”. He added: “Anchored by our Lee® and Wrangler® brands, the Indian market will provide a robust platform for future growth in the Asia-Pacific Region. His President of VF Asia, Aidan O’Meara thanked Arvind for the development of a fast-growing and profitable business for VF brands in India and assured that the two companies will continue to have a also a strong working relationship in the future. Jobs and daily operations will not be affected by the change, however the new name of the now fully VF controlled business is not yet announced.