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PVH Corp And Gazal Corporation Limited Announce Australian Joint Venture For Operation Of Calvin Klein Businesses In Australia


Thursday, 3 Oct 2013 08:00pm EDT 

PVH Corp, the owner of the Calvin Klein trademarks worldwide, and Gazal Corporation Limited, listed on the Australian Securities Exchange, announced that they have formed a joint venture, PVH Brands Australia Pty. Limited, which will license from Calvin Klein, Inc., a wholly owned subsidiary of PVH, the rights to operate, manage and distribute Calvin Klein brand products in Australia, New Zealand and other island nations in the South Pacific. The license term is 20 years. Currently, the principal distribution in the region consists of a wholesale and retail Calvin Klein Underwear distribution business operated by Gazal, with product supplied through a wholly owned subsidiary of PVH, and a wholesale and retail Calvin Klein Jeans business operated by two other PVH subsidiaries. The joint venture will combine these businesses and establish a unified approach for enhancing and expanding the distribution of the Calvin Klein brand in the region. As part of the joint venture: Gazal will sell to the joint venture its subsidiary currently operating its Calvin Klein Underwear distribution business in Australia and New Zealand. PVH will sell to the joint venture its subsidiaries currently operating the Calvin Klein Jeans businesses in Australia and New Zealand. The joint venture is currently scheduled to begin its wholesale and retail operations on February 3, 2014. 

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