G-III Apparel Group Ltd. (GIII: Quote) announced that it has entered into a joint venture agreement with China Ting Group Holdings Limited to open and operate Calvin Klein Performance retail stores in China and Hong Kong, under the Calvin Klein Performance store license previously granted to G-III by Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. (PVH: Quote). G-III will retain 51% ownership of the joint venture which expects to begin operating retail locations in major Chinese markets starting in Fall 2012.
The company noted that the products offered will be the women's active performance wear apparel in the athletic and performance wear categories developed and produced under G-III's license from Calvin Klein, Inc. utilizing materials and designs that enhance the active lifestyle including yoga, running, tennis, and biking.
by RTT Staff Writer
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