Monday, 7 May 2012

Tata enters JV with Wolverine to retail footwear and apparels

Tata International has inked a 50:50 joint venture with Wolverine World Wide for the wholesale distribution of Wolverine's Merrell and Caterpillar footwear brands and apparels in India. The joint venture will have an arrangement with Trent, which operates more than 50 departmental stores in India.

Mr N N Tata, Managing Director, Tata International said, “We look forward to a successful partnership with Wolverine in addressing the lifestyle footwear market in India which offers a meaningful opportunity. This is consistent with Tata International's focus on growing its presence in footwear distribution and retail in domestic and international markets.”

Mr Blake W. Krueger, Wolverine Worldwide Chairman and CEO, said, “This new partnership demonstrates the progress we are making towards our goal of expanding the retail presence of our brands through stand-alone stores, shop-in-shops and selected wholesale distribution. This joint venture model follows the successful strategy of our owned operations in the US, Canada and much of Europe.”
http://www.thehindubusinessline.com/industry-and-economy/marketing/article3345573.ece

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