India: Himatsingka signs licensing agreement with `kate spade new york’

Mergers & Acquisition

India: Himatsingka signs licensing agreement with `kate spade new york’

DWI Holdings, a subsidiary of Himatsingka Seide Ltd has signed a license agreement to manufacture and distribute the globally recognised `kate spade new york’ brand in North America, and certain other geographies. The license pertains to bedding and bath products. Commenting on the development, Shirkant Himagsingka, Executive Director, said, “In line with our strategy to augment our brand portfolio, the new license with kate spade will significantly contribute in expanding our reach in the branded home textiles space.”

The Himatsingka Group operates over 12 brands globally in the home textiles space. Its brand portfolio includes marquee brands like Calvin Klein Home, Barbara Barry, Esprit, Bellora, and atmosphere, among others. During FY 14, the group generated revenues of over Rs 600 crore from brands. The group is exploring various initiatives to augment its brand portfolio and deepen the distribution network of these brands. These initiatives should potentially steer revenues from brands to approximately Rs 1200 crore over the next two years.