The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

VF Corporation To Acquire Joint Venture in India

Wednesday, November 02, 2011

VF Corporation To Acquire Joint Venture in India08:30 EDT Wednesday, November 02, 2011 GREENSBORO, N.C., & BANGALORE, India (Business Wire) -- VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, today announced that its subsidiary, VF Mauritius, has acquired full ownership of VF Arvind Brands Private Limited, a majority-owned joint venture between VF Mauritius and Arvind Limited formed in 2006 to market VF brands in India. “Our business in India is strong, and now is the time to assume full ownership," said Eric C. Wiseman, Chairman, President and CEO of VF Corporation. "Anchored by our Lee® and Wrangler® brands, the Indian market will provide a robust platform for future growth in the Asia-Pacific region." Aidan O'Meara, President, VF Asia, 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.” O'Meara added that he does not expect any impact to 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. About VF VF Corporation is a global leader in branded lifestyle apparel with more than 30 brands. The company's top-six brands are The North Face(R), Wrangler(R), Timberland(R), Vans(R), Lee(R) and Nautica(R); other brands include 7 For All Mankind(R), Eagle Creek(R), Eastpak(R), Ella Moss(R), JanSport(R), John Varvatos(R), Kipling(R), lucy(R), Majestic(R), Napapijri(R), Red Kap(R), Reef(R), Riders(R), Splendid(R) and Smartwool(R). VF Corporation's press releases, annual report and other information can be accessed through the company's home page, www.vfc.com.In United StatesVF CorporationCarole CrosslinDirector, Corporate Communications336-424-7836orIn IndiaVF CorporationVipul MathurHead of Marketing, Lee®91-80-3079-0104 or 91-93-4247-1416