Flipkart in talks to acquire rights to Lee and Wrangler for India
Flipkart, which is backed by US-based Walmart, is looking to further expand its fashion portfolio through moving to acquire manufacturing and distribution rights for the international denim and casual wear brands, sources told TNN.
“When Arvind was running Lee in India, in the late ’90s, it was the top denim brand in terms of sales,” a source told TNN. “But after VF Corp took over, they started selling Lee and Wrangler, both of which have distinct personalities, in the same stores which showed a disinterest in investing in the brands. Later, they even added footwear brand Vans to these stores.” A Flipkart licensing agreement could see the brands revamped for the modern market.
Flipkart has recently taken steps to expand its apparel and accessories offerings, especially in the casual wear segment. The business bought a minority stake in Arvind Youth Brands which owns denim brand Flying Machine and recently invested in Universal Sportsbiz Private Limited which owns clothing brands including Wrogn, Imara, and Ms Taken.
Copyright © 2021 FashionNetwork.com All rights reserved.