New York-based coveted fashion brand Kate Spade is all set to enter the Indian market, opening its first outlet in Select Citywalk in Delhi. The mall has been an entry platform for many other iconic international brands like Massimo Dutti, Zara, H&M, Bobby Brown, Dior and Burger King to name just a few.
Kate Spade – known for its fresh, chic-yet-sensible handbags – had tied up with Reliance Brands in March this year, and is likely to open its first store around Christmas this year.
Confirming the news to Indiaretailing Bureau, Executive Director, Select Citywalk, Yogeshwar Sharma said, “Just like other international brands, Kate Spade will also be entering India through Select Citywalk this winter season.”
However, he did not divulged specific details related to the opening of the store and the company’s (Kate Spade) plan for India.
Earlier this year, Reliance Brands announced that it is bringing Kate Spade to India through a long-term distribution and retail license agreement. Under the terms of the agreement, Reliance Brands Limited will have the exclusive distribution rights to the brand in the country.
Under the terms of agreement, a subsidiary company of Reliance Industries has the exclusive distribution rights to the Kate Spade New York brand in the country.
“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,” President and CEO, Reliance Brands, Darshan Mehta said in a release then.
The CEO of Kate Spade and Company Craig A Leavitt said expanding into India was an important step for the company, which is currently looking to forward global brand engagement.
“With India’s rapid development and increasingly aspirational consumers, we see significant growth opportunities in the region in the long term,” he said.
The Kate Spade boutique in India will stock a diverse mix of signature products like handbags, shoes, clothing, eyewear, stationery, jewellery and watches that will be priced similar to the US rates.
The products will be selected from the recent Autumn/Winter 2016 collection showed in New York Fashion Week, last February.
Kate Spade – which started as a handbag brand – is now a successful billion dollar company selling everything from apparel to home goods. It was founded in 1993 by Mademoiselle editor Kate Brosnahan and her husband Andy Spade, an advertising creative director.
Today, Kate Spade New York has over 140 retail shops and outlet stores across the United States, and more than 175 shops internationally. Their products are sold in more than 450 stores worldwide, in every time zone and on every continent.
The company grew to include several retail outlets as well as selling their products through such high-end stores as Bloomingdale’s, Saks Fifth Avenue, and Neiman Marcus.