VF Corporation of the US, the world's largest apparel company and the owner of brands like Wrangler and Lee, has licensed out the Vanity Fair lingerie brand in India and the Saarc region to the Maxwell group, which owns the VIP, Rivolta and Live-In brands.
This is the first time that VF Corp has chosen another Indian company -- apart from Arvind Brands, the Sanjay Lalbhai group company, which markets Lee, Wrangler and Healthtex brands in India -- for marketing its brands.
Jaipal Reddy, managing director of Maxwell Industries, said: "VF Corporation has licensed the Vanity Fair brand to Laren Fashions (a Maxwell group firm) for India and neighbouring countries like Nepal, Bangladesh, Sri Lanka for five years."
VF Corp has a presence in jeanswear, intimate apparel, knitwear and specialty apparel and owns other leading brands like Gitano, Rustler, Riders, Britannica, Chic, Maverick, Old Axe, Vassarette, Bestform, Lily of France, JanSport, Eastpak, Healthtex, Red Kapamong others.
Vanity Fair is a super premium brand priced over Rs 300.This is the second international brand in the Maxwell portfolio, the first being Lovable lingerie.
In 1995,Maxwell acquired the license to market Lovable from Lovable Corporation. In 2002, the group acquired the brand rights of Lovable for India and the Saarc region for an undisclosed sum.
Apparelmajor Sara Lee Corporation markets the Lovable brand in the US and Europe and is looking to launch some of its brands in India.
VIP, the Maxwell flagship brand and the leader in men's undergarrments, is the largest contributor to the Rs 300 crore (Rs 3 billion)Maxwell group.
However,VIP's market dominance has been hit with the entry of brands like Rupa, Lux and Dollar. Moreover, the segment has seen the entry of international brands like Jockey, Triumph and Trylo.The promoters -- LJ Reddy and JK Pathare family -- together hold a 55 per cent stake in Maxwell Industries.