US based apparel marketer, PVH Corp and Australia based Gazal Corp, also an apparel marketer have expanded the scope of a joint venture they had earlier set up in February 2014.
Under the new agreement, the JV will add the Tommy Hilfiger, Van Heusen and Nancy Ganz businesses as well as certain of Gazal’s other shirting, tailored and shapewear businesses to its business.US based apparel marketer, PVH Corp and Australia based Gazal Corp, also an apparel marketer have expanded the scope of a joint venture they had#
PVH Brands Australia Pty Limited, commenced operations in February 2014, with its entry into a license and distribution agreement with Calvin Klein, a wholly owned subsidiary of PVH.
The JV markets Calvin Klein Jeans and Calvin Klein Underwear in Australia, New Zealand and the rest of Oceania.
Under the new terms, PVH Brands will enter into a license and distribution agreement with Tommy Hilfiger Europe B.V., a wholly owned subsidiary of PVH, for Tommy Hilfiger in Australia and New Zealand.
The JV will also acquire certain assets of the existing wholesale and retail Tommy Hilfiger business in Australia, including 12 stand-alone retail stores.
It will acquire Gazal’s shirting, tailored and men’s accessories business, which is conducted under PVH’s Van Heusen and Calvin Klein brands, as well as Gazal’s owned and licensed Bracks, Pierre Cardin and Paramount brands.
Gazal currently distributes the Van Heusen brand, the Australasian businesswear leader, under license from PVH and the current agreement will be transferred to the JV and extended to December 31, 2033.
It will also acquire Gazal’s shapewear business, which consists of the Australian and New Zealand rights to Nancy Ganz, the Australasian market leader in this category.
The JV also has the right to distribute Spanx brand in Australia and New Zealand under license from Spanx, Inc., and Gazal’s own HoldmeTight brand.
The JV will also enter into a perpetual license with PVH for Nancy Ganz for all territories outside of Australia and New Zealand. (AR)
Fibre2fashion News Desk - India
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