Arvind joins JV with PVH Corp for Calvin Klein biz in India - The New Indian Express

Arvind joins JV with PVH Corp for Calvin Klein biz in India

Published: 25th March 2014 03:19 PM

Last Updated: 25th March 2014 03:19 PM

Arvind shares gained on Tuesday after the company'ssubsidiary Arvind Brands and Retailjoined PVH Corp's joint venture in Premium Garments Wholesale Trading, the licensee of the Calvin Klein trademarks in India, by replacing prior joint venture partners.

In connection with the transaction, Calvin Klein, a wholly owned subsidiary of PVH, entered into a new license with Premium Garments to distribute Calvin Klein Jeans apparel and accessories and Calvin Klein Underwear products in India.

Shares of Arvind are trading at Rs 154.80, up Rs 7.4, or 5.02% at the Bombay Stock Exchange (BSE) on Tuesday at 1:49 p.m.The scrip has touched an intra-day high of Rs 155.35 and low of Rs 148.25. The total volume of shares traded at the BSE is 325,489.In the earlier session, the shares declined 0.47%, or Rs 0.70, at Rs 147.40.Currently, the stock is trading down 3.1% from its 52-week high of Rs 159.75 and above 138.15% over the 52-week low of Rs 65.

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