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Denim wave gathers steam
Stretchy athletic wear has dominated fashion for several years. Between 2011 and 2016, the market for athletic wear grew to be 30 per cent of the total clothing and footwear industry, increasing an impressive 7 per cent a year compared to the 1 per cent growth of the apparel sector in general, according to Wells Fargo analysts.
J Suresh, CEO, Arvind Brands, joined the company in September 2005 and since then has turned around the company by strengthening brand and retail portfolio of Arvind. During his tenure, Arvind added international marque brands like Calvin Klein, Nautica, US Polo and Gap. The Children’s Place, Aeropostale and Sephora to its portfolio. Prior to joining Arvind, he has held several senior positions during his 18-year-old stint in Hindustan Uniliver Ltd.
Arvind acquires 49 per cent stake in Calvin Klein India
Sanjay Lalbhai-controlled Arvind has finalised a deal to buy out 49 per cent stake jointly held by the Murjani Group and the US-based private equity fund Matrix Partners in Calvin Klein India for close to Rs 100 crore.
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