American clothing brand Kenneth Cole has replaced RelianceNSE 5.50 % Brands with Brandzstorm India as its partner for designing, manufacturing distributing and retailing its products in India, Bangladesh and Sri Lanka.
As a part of the 10-year master licensing partnership with Brandzstorm India, Kenneth Cole aims to touch 100 crore in India sales by 2020 and open about 10 stores in the country during the period. Two flagship stores in Mumbai and Delhi are expected to come up by the end of this year.
“We have signed a master licencing agreement with Kenneth Cole for India, Bangladesh and Sri Lanka for some of their product categories,” said Ujjval Saraf, managing director of Brandzstorm India.
An email query sent to Reliance Brands remained unanswered as of press time on Tuesday.
The deal includes different product categories of Kenneth Cole, such men and women’s apparel, handbags, footwear and travel gear. Watches and fragrances of the American brand are not a part of this deal.
Besides Kenneth Cole, Brandzstorm has also signed a long-term exclusive master licensing agreement with Giordano International for apparel, footwear and accessories.
As per management consulting firm Technopak, the fashion retail market, worth $46 billion in 2017, will grow at a CAGR of 9.7% to touch $115 billion by 2026.
The Mumbai-based firm which started operations in 2009 also has exclusive tie-ups with Furla, Tonino Lamborghini and Steve Madden.