Saturday, April 28, 2012: 06:17:46 PM

Retail News

Tata International announces JV with Wolverine World Wide Inc

50-50 JV to help international footwear and apparel brand to strengthen distribution and retail network in the Indian market

In a new boost to the footwear market in India, Tata International, the trading arm of the Indian conglomerate Tata Group, announced a JV with Wolverine World Wide Inc. The JV will facilitate the wholesale and distribution of Wolverine’s Merrell and Caterpillar Footwear brands and apparels in the country. Both companies will hold 50% stake in the new joint venture.

 
Apart from this, the business model allows greater retail presence of the footwear and apparel brand through an arrangement with Trent, which has a presence in more than 50 departmental stores in India.
 
Bringing in its massive retail and wholesale experience into the JV and its magnanimous brand image, Tata International will help the Merrell and Caterpillar brands enhance its brand positioning in the dynamic Indian market.
 
JV advantages
 
Speaking about the JV, Blake W Krueger, Wolverine chairman and CEO, stated, "This new partnership demonstrates the progress we are making towards our goal of expanding the retail presence of our brands through standalone stores, shop-in-shops and selected wholesale distribution. This JV model follows the successful strategy of our owned operations in the US, Canada and much of Europe. We believe that we have found, in Tata International, a truly remarkable partner who is equally dedicated to the success, growth and prosperity of our shared company, as well as the continued global expansion of Wolverine‘s lifestyle brands."
 
According to N N Tata, managing director of Tata International, "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."
 
The JV will also provide an ideal platform to the brands to enhance their portfolio and target their consumers better. Wolverine World Wide Inc already enjoys massive success in the Indian market with its brand Hush Puppies.
 
Tias Chakraborty

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