Arvind Mills Ltd has announced the following Press Release in respect of signing of an exclusive license agreement between Arvind Brands, a Division of the Company and The Philips - Van Heusen Corporation for designing, distribution and retailing of IZOD brad apparels in India.

“The Phillips-Van Heusen Corporation, the world’s largest shirt Company announced on March 24, 2008 that it has signed an exclusive license agreement with Arvind Brands, a division of the Arvind Mills Ltd for IZOD - a brand reputed for its dominance in the sportswear segment.

As per the licensing agreement, Arvind Brands, the second largest branded apparel maker in the country will have the exclusive rights to design, distribute and retail IZOD in India. This multi year agreement covers a wide range of categories including sportshirts, T-shirts, casual trousers, shorts, swimwear, active wear & accessories. This partnership will also focus on creating IZOD flagship stores in India. With its solid American heritage, this alliance will bring to India a truly iconic American brand.

“The PVH Corporation has been a part of India though its flagship brand Arrow for more than 15 years now and is committed even more strongly to bringing in its large portfolio of brands. ARVIND BRANDS, a division of Arvind Mills, currently manages a number of prominent international brands and has the skill, business acumen, experience and infrastructure to successfully introduce and develop the IZOD Brand in India” said Kenneth Wyse, President - Licensing at PVH Corporation.

“ARVIND BRANDS is greatly excited to be furthering its relationship with the PVH Corporation - a Company it has closely worked with for the last 15 years,” said J Suresh, CEO of ARVIND BRANDS. Adding further he said “With this partnership, Arvind Brands will now have a strong presence in the Sportswear segment with a truly iconic American brand. I believe this is a segment that is at the cusp of an explosive growth in India”.

Arvind Brands’ association with PVH which owns the famous Calvin Klein, Van Heusen, Speedo, Bass and which employs over 11,000 peoples worldwide dates back to 1993 when it entered into a licensing agreement with the latter to retail its Arrow brand in the country. Arrow today is a market leader in the premium formal category in India. IZOD will be the second product from the PVH stable that Arvind will be retailing in the country.

Founded in 1938 and acquired by PVH in 1995, the IZOD brand which has a turnover of over US $1 billion across all categories is licensed to 27 Companies covering 25 categories in the U.S and 11 international territories. PVH manufactures and markets men’s and women’s sportswear and men’s dress shirts and neckwear under the brand. In addition to the core IZOD brand, PVH and its worldwide, network of licensees offer IZOD PertormX, which takes advantage of the latest in performance fabric and apparel technologies, as well as IZOD LX, a luxury assortment available exclusively at Macy’s stores.

The IZOD brand continued to expand its reach in 2007 by way of additional international and domestic license agreements. The brand’s global distribution has expanded further throughout Latin America and Asia and new offerings have been layered onto existing business, with an increased focus on the women’s market. With a global presence IZOD has a turnover of over US$ 1 billion across all categories.”