New York-based women’s lifestyle brand Kate Spade has entered into a retail license agreement with Mukesh Ambani led Reliance Brands to establish its footprint in India in order to support continued expansion as a global, multichannel lifestyle brand.
As part of the agreement, Reliance Brands will hold the exclusive distribution rights to Kate Spade New York in the country and will also see the establishment of a network of standalone retail locations across major Indian cities beginning later this year.
In words of Craig A. Leavitt, Chief Executive Officer, Kate Spade, “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.”
“We look forward to working with Kate Spade & Company to bring the world of Kate Spade New York to India,” said Darshan Mehta, President and Chief Executive Officer, Reliance Brands.
“We are confident that Kate Spade New York’s strong heritage and strong designer point of view will resonate with Indian consumers, bringing a new dimension to the women’s wardrobe,” he added.
Reliance has planned to open the first few brand stores before the end of the year.