In what is stated to be the first partnership of its kind, Arvind Brands Ltd, a subsidiary of Arvind Mills Ltd, said on Friday it has agreed to form a joint venture with VF Corp. of the United States, for marketing in India various brands owned by VF Corp.
Arvind will hold a 40 per cent stake in the JV, to be called VF Arvind Brands, while VF Corp. will hold the majority 60 per cent. VF Corp. will pay $33 million for the 60 per cent equity in the new company, a spokesman for the Bangalore-based Arvind Brands said.
"The existing business including intellectual assets and existing licenses from VF for Lee, Wrangler, Nautica, Jansport and Kipling brands, currently held by Arvind Fashions Ltd, will be transferred to this JV," the spokesman said in a statement. The new company will be handling the designing, sourcing and marketing of the existing licensed brands and in the future may add a few more brands belonging to VF Corp.
The retailing and the stores infrastructure will continue to be held by Arvind. Mr Darshan Mehta, currently president of Arvind Brands, will be CEO of the new company.
Mr Jayesh Shah, CFO and director of Arvind, said, "The transaction further strengthens the relationship Arvind shares with VF Corp. and is a pointer to the faith in the future of branded retailing in India."
Where to go? To perk up its tourism, Nepal looks to Gujarat
September 2, 2006, 10:41 am
ITS tourism sector hit by Maoist violence and political upheaval, the Himalayan kingdom of Nepal is now looking to Gujarat to give the battered industry a much needed facelift. The reason: Gujaratis are known for their penchant for travel and they have the money too. For the first time ever, a delegation from Nepal Tourism Board has come to Gujarat to promote their tourism hotspots at the Travel and Tourism Fair being held at Ahmedabad’s Rajpath Club.
“India is of particular interest to Nepal, since Indians constitute 33 per cent of tourists visiting us. We aim to make it at least 50 per cent. Gujarat contributes approximately 10 to 15 per cent of the Indian tourists,” says Rohini Prasad Khanal, in charge of tourism marketing and promotion in Nepal Tourism Board. ‘‘From the research conducted, we have found out that people in Gujarat are travel enthusiasts and have high disposable income,’’ he adds.
With a new tagline — Naturally Nepal, Once is Not Enough — NTB is marketing the country as an ideal destination for not just religious, but also adventure tourism. “In just a few thousand rupees, tourists get an experience similar to Switzerland or Canada. Be it skiing, trekking, river rafting, bungee jumping or para-gliding, you have it all in Nepal. It is also the ideal weekend destination for Bollywood stars,’’ says Paresh Pewekar, incharge of Nepal Tourism Board in Gujarat.
‘‘Yes, tourism was getting affected because of Nepal being in news for all the wrong reasons. But never has once any tourist been a victim of violence,’’ says Khanal. The peak season for tourism in Nepal is from September to January. The NTB has come up with some interesting packages that have been segmented into religious and adventure tourism. ‘‘It’s not just about the casinos or the monasteries in Nepal. The country is much more than Pashupatinath temple, Lumbini, Kailash Mansarovar and Manokamna temple. Our terrain is so diverse that it is an ideal hub for adventure sports too,’’ avers Khanal.
Besides the Kathmandu Valley which boasts of seven UNESCO World Heritage sites within a 20 km radius, the NTB is also promoting its wildlife reserves and national parks.
Source: Expressindia.com
“India is of particular interest to Nepal, since Indians constitute 33 per cent of tourists visiting us. We aim to make it at least 50 per cent. Gujarat contributes approximately 10 to 15 per cent of the Indian tourists,” says Rohini Prasad Khanal, in charge of tourism marketing and promotion in Nepal Tourism Board. ‘‘From the research conducted, we have found out that people in Gujarat are travel enthusiasts and have high disposable income,’’ he adds.
With a new tagline — Naturally Nepal, Once is Not Enough — NTB is marketing the country as an ideal destination for not just religious, but also adventure tourism. “In just a few thousand rupees, tourists get an experience similar to Switzerland or Canada. Be it skiing, trekking, river rafting, bungee jumping or para-gliding, you have it all in Nepal. It is also the ideal weekend destination for Bollywood stars,’’ says Paresh Pewekar, incharge of Nepal Tourism Board in Gujarat.
‘‘Yes, tourism was getting affected because of Nepal being in news for all the wrong reasons. But never has once any tourist been a victim of violence,’’ says Khanal. The peak season for tourism in Nepal is from September to January. The NTB has come up with some interesting packages that have been segmented into religious and adventure tourism. ‘‘It’s not just about the casinos or the monasteries in Nepal. The country is much more than Pashupatinath temple, Lumbini, Kailash Mansarovar and Manokamna temple. Our terrain is so diverse that it is an ideal hub for adventure sports too,’’ avers Khanal.
Besides the Kathmandu Valley which boasts of seven UNESCO World Heritage sites within a 20 km radius, the NTB is also promoting its wildlife reserves and national parks.
Source: Expressindia.com
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