Flipkart planning to obtain manufacturing and distribtion rights of Wrangler & Lee in India
Flipkart is in in talks with Kontoor Brands for rights of two iconinc brands Lee and Wrangler in India. Previously it had invested INR 260 Cr for a minority stake in Arvind Fashions’ (AFL) subsidiary Arvind Youth Brands, which owns the Flying Machine brand. With its deal with Arvind Fashions’, Flipkart has got randed apparel brands under its roof such as Calvin Klein, Tommy Hilfiger, US Polo Assn, Ed Hardy, Hanes, Arrow, Gant, Flying Machine and Nautica.
Flipkart has followed an acquisition strategy for other brands and verticals in the past as well in order to expand its operations and leverage strategic partnerships to keep its cost structures lean and scale rapidly. This is a win-win situation for India and Flipkart as it benefits India by boosting GDP, creations job opportunities and many more.