Kate Spade & Company And Exclusive Brands International Announce Partnership To Expand Kate Spade New York Brand Presence In Latin America
By PRN NewsWire
NEW YORK and PANAMA CITY, May 7, 2015 /PRNewswire/ — Kate Spade & Company (NYSE: KATE) and Exclusive Brands International S.A. (EBI), a leading retailer and distributor in Latin America and the Caribbean, today announced plans to expand the kate spade new york brand presence in Latin America with a new distribution agreement. Under the terms of the agreement, EBI will have distribution rights to the kate spade new york brand, spanning 17 territories throughout Central and South America and the Caribbean.
The newly formed strategic partnership will leverage EBI’s understanding of the region, international brand experience, and proven success at helping brands grow to expand the kate spade new york footprint in Latin America and distribute kate spade new york products to territories where the Company does not currently have store, wholesale, or eCommerce presence.
Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said: “Latin America offers significant untapped potential where we see meaningful opportunity for growth. Currently in this region, we see significant brand awareness, increasing demand for our products and the desire to engage with the kate spade new york brand more deeply. We look forward to connecting with these customers and providing them with access to the kate spade new york collections in their own countries.”
Mr. Leavitt continued: “Our partnership with EBI is important as we establish a strong foundation for the kate spade new york brand across Latin America, helping us build scale and accelerate growth in that region. This strategic partnership is an important milestone in Kate Spade & Company’s progression along our geographic expansion axis and is consistent with our partnered approach to expansion.”
“We are extremely pleased to be partnering with Kate Spade & Company to launch the kate spade new york brand in Latin America. We are confident that kate spade new york’s colorful and sophisticated designs, along with EBI’s extensive experience in retail and distribution in Latin America, will enhance the brand’s success,” said Alfredo Maduro Z., CEO of Exclusive Brands International S.A.
In connection with the partnership, the Company will no longer operate directly in Brazil and will evaluate the business in the region in partnership with EBI. Kate Spade & Company will continue its successful existing distribution agreement with Grupo Axo in Mexico, where kate spade new york already has four stores and two points of distribution.
About Kate Spade & Company
Kate Spade & Company (NYSE: KATE) designs and markets accessories and apparel principally under two global, multichannel lifestyle brands: kate spade new york and Jack Spade. With collections spanning demographics, genders and geographies, the brands are intended to accent customers’ interesting lives and inspire adventure at each turn. The Company also owns the Adelington Design Group, a private brand jewelry design and development group that markets brands through department stores and serves jcpenney via exclusive supplier agreements for the Liz Claiborne and Monet jewelry lines. The Company also has a license for the Liz Claiborne New York brand, available at QVC, and Lizwear, which is distributed through the club store channel. Visit www.katespadeandcompany.com for more information.
About Exclusive Brands International SA
Exclusive Brands International S.A is a premier retail and distribution company headquartered in Panama City, Republic of Panama. With presence in over 17 countries in Latin America and the Caribbean, it has extensive experience in the distribution and retail of major apparel and accessories brands in the region. It currently manages the Michael Kors Latin America Joint Venture along with Ralph Lauren stores in the region. The company also owns Billabong stores in Panama and Exclusive Brands Logistics.
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Kate Spade & Company
CONTACT: Emily Garbaccio – Vice President, Communications, Kate Spade &Company, 212.739.6552, email@example.com; Gabriela Brandao -Communications Manager, Exclusive Brands International S.A, +507 306-7600,firstname.lastname@example.org
Web site: http://www.katespadeandcompany.com/