This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kenneth Cole Announces Entry Into Indian Market

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.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs