PDS Limited’s UK-based subsidiary, Poetic Brands, has entered into a license agreement with Authentic Brands Group (ABG) for Forever 21.
Poetic Brands has been granted the rights for the manufacturing, marketing and distribution of Forever 21 in the UK and European regions, including Germany, France, Spain and Switzerland, amongst others.
PDS Limited is a design-led sourcing, manufacturing & supply chain platform catering to leading brands and retailers globally with a presence in over 22 countries.
With this acquisition, Poetic Brands, which currently operates with a Rs. 260 crore (US $35million) topline, will expand its licensed portfolio to include Forever 21.
In a statement, the company said that Poetic Brands will drive the growth of the brand across categories including womenswear, menswear, kidswear, athleisure, swimwear and fashion accessories. Forever 21 brand will be distributed through leading full-price retailers and popular e-commerce platforms across UK and EU. Poetic Brands also has the opportunity to create Forever 21 shop-in-shops.
Pallak Seth, Vice-Chairman, PDS Limited, said “We are delighted to work with a leading brand like Forever 21. The brand drives innovation across retail, providing designs, fabrications and fits for customers at an affordable price. Through our relationship with Forever 21, we will deliver quality products and great style to consumers in the UK and Europe, while opening doors to bring on board the best in class partners in our supply chain.”
Sanjay Jain, Group CEO, PDS Limited, added “Forever 21 over the years has emerged as a much-loved brand that caters to discerning and price-sensitive audience. We are looking forward to building the Forever 21 brand while delivering superior products and services to consumers in the UK and EU.”
In FY ‘22, PDS saw its consolidated revenues crossUS$1 billion.
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