Kate Spade & Company and Reliance Brands Limited Announce Partnership to Bring kate spade new york to India
New distribution agreement to establish Kate Spade & Company's footprint in India to support continued expansion as a global, multichannel lifestyle brand
NEW YORK and MUMBAI, India, March 1, 2016 /PRNewswire/ -- Kate Spade & Company (NYSE: KATE) and Reliance Brands Limited, a subsidiary of Reliance Industries Group, a renowned retail partner-of-choice in India, today announced plans to the bring the kate spade new york brand to India through a long-term distribution and retail license agreement. Under the terms of the agreement, Reliance Brands Limited will have the exclusive distribution rights to the kate spade new york brand in the country.
The newly formed partnership will leverage Reliance Brands Limited's in-depth market expertise in India and the increasing global demand for kate spade new york products to establish a network of standalone stores across major Indian cities beginning later in 2016.
Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said: "Expanding into India is an important next step for Kate Spade & Company as we continue to progress along our geographic expansion axis of growth and build global brand engagement. With India's rapid development and increasingly aspirational consumers, we see significant growth opportunities in the region in the long term."
Mr. Leavitt continued: "Reliance Brands is the ideal partner to help us open standalone stores in India, given its experience and success launching premium brands."
"We look forward to working with Kate Spade & Company to bring the world of kate spade new york to India. We are confident that kate spade new york's strong heritage and strong design point of view will resonate with Indian consumers, bringing a new dimension to the women's wardrobe," said Darshan Mehta, President and CEO of Reliance Brands Limited.
ABOUT KATE SPADE & COMPANY
Kate Spade & Company (NYSE: KATE) operates principally under two global, multichannel lifestyle brands: kate spade new york and Jack Spade. The Company's four category pillars – women's, men's, children's and home – span demographics, genders and geographies. Known for crisp color, graphic prints and playful sophistication, kate spade new york aims to inspire a more interesting life. The kate spade new york collection includes the Madison Avenue, Broome Street and on purpose labels. Jack Spade offers a timeless and versatile assortment of bags, sportswear and tailored clothing founded on the aesthetic of simple, purposeful design. The Company also owns Adelington Design Group, a private brand jewelry design and development group. Visit www.katespadeandcompany.com for more information.
ABOUT RELIANCE BRANDS LIMITED
Reliance Brands Limited is part of the Reliance Industries Group. The Company began operations in October 2007 with a mandate to launch and build international and domestic brand equity in the premium to luxury segment across apparel, footwear and lifestyle business. Its current portfolio of brand partnerships comprises of BCBGMAXAZRIA, BROOKS BROS, DC, DIESEL, DUNE, ERMENEGILDO ZEGNA, GAS, HAMLEYS, HUNKEMOLLER, ICONIX, JUICY COUTURE, KENNETH COLE, MUJI, PAUL & SHARK, QUIKSILVER, REISS, ROXY, STEVE MADDEN, SUPERDRY and THOMAS PINK.
SOURCE Kate Spade & Company
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