Textile maker Arvind Ltd today said it has inked a distribution pact with surf wear maker Billabong through a subsidiary, Arvind Lifestyle Brands.
As part of the exclusive agreement, Arvind will market Billabong's products through stand-alone stores as well as in department stores and leading multibrand stores, the company said in a filing to the BSE.
Commenting on the development Arvind Brands and Retail Managing Director and CEO J Suresh said the company is delighted to the sign the pact with Billabong.
"Billabong is strongly focused on youth and is ideal for the Indian market which has the largest youth demographic in the world," he added.
Billabong Asia General Manager Phil Nicole said that the company has found in Arvind a great partner as it seeks to further its Asian operations.
Established at Australia's Gold Coast in 1973, Billagong makes apparels for water surfing.
Shares of Arvind Ltd today settled higher by 3.5% at Rs 93.05 on the BSE.
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