May 18: Himatsingka America Inc., the wholly-owned step down subsidiary of Bengaluru-based textile company Himatsingka Seide Ltd (HSL), on Friday said that it has acquired the home portfolio of Global Brands Group Holding Ltd.
Headquartered in Hong Kong, Global Brands Group Holding Ltd is a branded apparel, footwear and fashion accessories company. It designs, develops, markets and sells products under a diverse array of owned and licensed brands and a wide range of product categories on a global scale.
According to Himatsingka, the acquired home portfolio includes the exclusive license rights to the famous and iconic Tommy Hilfiger brand, the Copper Fit brand and other brands. This brand portfolio is estimated to contribute annual revenues of approximately $60-65 million to the group, it said.
Incorporated in 2004, Himatsingka America, Inc. engages in the distribution of silk and silk-blended yarns and yarn dyed decorative, bridal, and fashion fabrics. The company is based in New York.
Himatsingka Seide shares were trading at Rs 356, up 0.08% from the previous closing of Rs 355.70, on BSE at 3.10 pm today.