Textile firm Himatsingka Seide today said its step-down subsidiary has acquired the home portfolio of Global Brands Group Holding, which has exclusive licence rights for brands like Tommy Hilfiger, Copper Fit, among others.
The company expects this portfolio to contribute annual revenues of approximately USD 60-65 million (over Rs 400 crore) to the group.
"Himatsingka America Inc, the wholly owned step-down subsidiary of Himatsingka Seide Ltd, has acquired the home portfolio of Global Brands Group Holding Ltd," the company said in a BSE filing.
It further said: "The acquired home portfolio includes the exclusive licence rights to the famous and iconic Tommy Hilfiger brand, the Copper Fit brand and other brands. This brand portfolio is estimated to contribute annual revenues of approximately USD 60-65 million to the group.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)