Kate Spade is going to India.
Partnering with Reliance Brands, the New York-based retailer has entered into a new distribution agreement to establish its footprint in India in order to support continued expansion as a global, multichannel lifestyle brand.
Under the terms of the agreement, Reliance Brands Limited will have the exclusive distribution rights to the brand in the country.
The newly formed partnership will leverage parent company Reliance Brands Ltd's market expertise in India and the “increasing demand” for Kate Spade products, to establish a network of standalone stores across major Indian cities beginning later in 2016.
“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,” said Craig A. Leavitt, CEO of Kate Spade & Company. “With India's rapid development and increasingly aspirational consumers, we see significant growth opportunities in the region in the long term.
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," added Darshan Mehta, President and CEO of Reliance Brands Ltd.