(Image source from: talk-business.co.uk)

Anne Klein, US women’s fashion label is in talks with a host of local companies for a partnership in order to enter the Indian market this year, as said by a top executive.

“We are very excited about the Indian market,” said chief executive of WHP Global, Yehuda Shmidman. Last year, in July, it has acquired the five-decades old apparel and accessories brand. “We believe that India will contribute a big part of our future global growth.”

The watches of Anne Klein are already being sold in our country in a partnership with titan. The investors that include Oaktree Capital and Blackrock Capital among the others set up a $ 1 billion fund called WHO which is to acquire brands for global expansions.

The New York-based brand that was founded in 1968 by Annie Klein generates about $700 million in annual revenues from which $100 million is from the international markets.

India will be the third country that the US brand enters in 2020, the first two being China and Mexico. The company has also been looking into expanding into other Asian, Middle East and Latin American countries. Shmidman said that active discussions are being made by WHP with a couple of Indian companies for appointing a licensee for the brand here.

“Entering through a licensee is indeed the business model that we believe is the best because it leverages the best of the brand, which we bring to the table, and, of course, the critical local know-how and the experience the local partnership brings,” Shmidman said.

“We will provide all the brains elements needed and then our licensee in India will be our expert on the ground who will have that role and responsibility to build the stores and ecommerce.”

By Shrithika Kushangi