Date:31/03/2004 URL: http://www.thehindubusinessline.com/2004/03/31/stories/2004033101370600.htm

Back Talks on with Sierra for footwear rights

Boby Kurian

Bangalore , March 30

GVM International Ltd, a licensee of Tommy Hilfiger Licensing Inc (a wholly-owned subsidiary of Tommy Hilfiger Corporation) and a member of the Murjani Group, is in talks to give the footwear rights of the brand to the Rs 100-crore Sierra Industrial Products Ltd.

Informed sources said negotiations were on and a deal could be announced soon. When contacted, Sierra officials confirmed talks.

The development comes at a time when Sierra's licensing agreement with global footwear giant, Nike, is in a "winding down" period. Nike India is ramping up its presence in the country and is expected to put in place a team to directly handle sourcing and marketing the brand. Sources added that Sierra, however, will continue to be associated with the sales and retailing of Nike.

It must be mentioned that the Vijay Murjani-managed GVM International has entered into arrangements with a slew of Indian companies to bring Tommy Hilfiger into India. It tied up with Arvind Brands for the main apparel business and then concluded deals with Titan for watches, Wellspun for home furnishings and Eastman Clothing for innerwear.