Tata announces joint venture
Tata International will distribute Wolverine World Wide's Merrell and Caterpillar brands in India.
Image © Kuznetsov
Tata International has announced the setting up of a joint venture with Wolverine World Wide Inc for the wholesale distribution of Wolverine’s Merrell and Caterpillar footwear brands in India. Both organisations will hold a 50 per cent stake.
With significant retail and marketing expertise, Tata International also has 30 years of experience in manufacturing footwear for major international brands and the Indian market. The joint venture also includes an arrangement with Trent, which operates more than 50 department stores around India.
“We look forward to a successful partnership with Wolverine in addressing the lifestyle footwear market in India which offers a meaningful opportunity,” said Noel N Tata, Managing Director of Tata International. “This is consistent with Tata International’s focus on growing its presence in footwear distribution and retail in domestic and international markets.”
Blake W Krueger, Wolverine Worldwide Chairman and Chief Executive, 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 article was originally published on page 6 of the June 2012 issue of SATRA Bulletin.