Apparel marketers, US based PVH Corp. and Australia based Gazal Corp. have expanded the scope of a joint venture they had 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 fold.
PVH Brands and 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.
The JV will also enter into a perpetual license with PVH for Nancy Ganz for all territories outside of Australia and New Zealand.