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Flipkart group in talks with Kontoor brands
November 20, 2020
After buying a huge minority stake in Arvind Youth Brands, which owns the Flying Machine denim logo, Walmart-sponsored Flipkart Group is now in talks with American clothing organisation Kontoor Brands for the logo rights of Lee and Wrangler in India, assets stated.
If the deal goes via, the Flipkart Group, which operates digital style store Myntra, will get the manufacturing and distribution rights of these brands.
“When Arvind became strolling Lee in India, in the late ’90s, it was the pinnacle denim brand in terms of sales. But after VF Corp took over, they commenced selling Lee and Wrangler, both of that have awesome personalities, in the equal stores which confirmed a disinterest in investing within the brands. Later, they even brought shoes brand Vans to those shops,” said a person familiar with the improvement.
While a Flipkart Group spokesperson did now not reply to an emailed query from TOI, a Kontoor Brands spokesperson stated, “As organization coverage, we do now not comment on hypothesis or rumours.”