NEW YORK, Nov. 2, 2011 /PRNewswire/ -- In an effort to
continue global expansion of the brand, Kenneth Cole Productions,
Inc. (NYSE: KCP) and Reliance Brands Limited, announced today that
they have signed a licensing agreement in India for retail and premium wholesale
distribution. The agreement will include the opening of five stores
over the next three years, with plans to open an additional 20
stores in the following five years.
The launch will initially include the opening of dual gender
retail stores in major cities across India. Categories will include men's and
women's footwear, clothing and accessories under the Kenneth Cole
New York and the Kenneth Cole Reaction labels. Reliance
Brands Ltd., which started in 2007, has Joint Ventures with
Ermengildo Zegna, Diesel, Paul &
Shark, along with long term Distribution and Licensing agreements
with Timberland, Quiksilver, Roxy and Steve
Madden for the Indian market.
Mr. Darshan Mehta, President
& CEO, Reliance Brands Ltd. said, " We're very excited to join
hands with Kenneth Cole Productions, a brand that not only
represents an iconic all-American fashion house but also enjoys a
world-wide fan following. The brand encapsulates a lifestyle that
is chic, urban and is infused with modern style and sensibility
that perfectly resonates with the contemporary Indian
consumers."
The introduction of Kenneth Cole
to one of the leading emerging markets of the world is a great
opportunity for the brand. India
is fast becoming a fashion capital of the world, and the synergy of
its metropolitan lifestyle coupled with the modern sensibilities of
the brand's heritage is the perfect addition to the growing global
portfolio for Kenneth Cole Productions. As the increase in demand
for mainstream Western styles and trends becomes more prevalent,
and the retail structure of the country continues to change with
the opening of more and more malls, brand awareness is growing, and
the demand for high quality fashionable apparel, footwear and
accessories at a great price makes Kenneth
Cole a natural shopping destination in India.
Paul Blum CEO, Kenneth Cole Productions Inc. said, "India promises substantial growth potential
for our brand, the country's economy is growing quickly and
development is strong which is why Kenneth and I want to create a
presence in India now. Our
global expansion is directly linked to an increased demand for our
product internationally, and we are excited to introduce our brand
to the market with a strong partner like Reliance."
About Kenneth Cole Productions, Inc.
Kenneth Cole Productions, Inc. designs, sources and markets a
broad range of footwear, handbags, apparel and accessories under
the brand names Kenneth Cole New York, Kenneth Cole
Reaction, Unlisted and Le
Tigre, as well as footwear under the proprietary
trademark Gentle Souls. The Company has also granted a wide
variety of third party licenses for the production of men's,
women's and children's apparel as well as fragrances, watches,
jewelry, eyewear and several other accessory categories. The
Company's products are distributed through department stores,
better specialty stores, company-owned retail stores and its
e-commerce website. Further information can be found at
http://www.kennethcole.com.
About Reliance Industries Limited
Reliance Industries Limited (RIL) is India's largest private sector company on all
major financial parameters with a turnover of INR 2,58,651 crore (US$ 58.0
billion), cash profit of INR 34,530
crore (US$ 7.7 billion), net
profit of INR 20,286 crore
(US$ 4.5 billion) and net worth of
INR 1,51,540 crore (US$ 34.0 billion) as of March 31, 2011.
RIL is the first private sector company from India to feature in the Fortune Global 500
list of 'World's Largest Corporations' and ranks 119th amongst the
world's Top 200 companies in terms of profits. RIL ranks 68th in
the Financial 'Times FT Global 500' list of the world's largest
companies. RIL is ranked amongst the '50 Most Innovative Companies
- 2010' in the World in a survey conducted by the US financial
publication - Business Week in collaboration with the Boston
Consulting Group (BCG). In 2010, BCG also ranked RIL as the second
highest 'Sustainable Value Creators' for creating the most
shareholder value over the decade in the world.
SOURCE Kenneth Cole Productions, Inc.