Himatsingka Seide Ltd said its subsidiary DWI Holdings has signed a license agreement to manufacture and distribute the "kate spade new york" brand of bedding and bath products in North America and certain other geographies.
Shrikant Himatsingka, Executive Director, said "In line with our strategy to augment our brand portfolio, the new license with 'kate spade new york' is an extremely positive development. It will significantly contribute to expand our reach in branded home textiles space".
Himatsingka shares were trading 2.83 per cent higher in the intraday trade at Rs 87.25 on the BSE on Monday.
The Himatsingka Group operates over 12 brands gloally in the home textiles space. Its brand portfolio includes marquee brands such as Calvin Klein Home, Barbara Berry, Espirit, Bellora and atmosphere among others.
During 2013-14, the group generated over Rs 600 crore from brands. The Himatsingka Group is exploring various initiatives to augment its brand portfolio and deepen its distribution network of these brands. These initiatives should potentially steer revenues from brands to approximately Rs 1,200 crore over the next two years, the company said in a statement.