Authentic Brands Group has designated a brand new licensee for the Nine West perfume enterprise — Sheralven Enterprises.
The firm will now manufacture and distribute fragrances and ancillaries for Nine West. “We have been communicating for over a year with the ABG Group, and while they have a ton of brands, Nine West fits us perfectly because we specialize in creating affordable, luxury products,” stated Sheryl Krakow, managing director of Sheralven Enterprises.
Furthermore, the corporate is hoping to capitalize on Nine West’s current distribution for assist promoting the fragrances, which is able to initially embody a signature eau de parfum, amongst different codecs, to launch in winter 2021. “We’re trying to align ourselves with the partnerships Authentic Brands Group has with Nine West’s retailers. But without having a product ready, we’re still in the very early stages of that conversation,” Krakow stated.
Although the signature perfume has not been developed but, and a worth needs to be pinned down, business sources anticipate Nine West’s perfume enterprise to surpass $1 million in retail gross sales for its first yr available on the market.
The fragrance will undoubtedly be a decrease level of entry for brand spanking new customers than Nine West’s present equipment choices, though Krakow envisions the 2 classes working synergistically.
“We are definitely going to launch a more affordable format, perhaps a fragrance pen, that women can tuck in their purses,” Krakow stated. “We are looking to align ourselves with Nine West’s categories such that if someone’s buying a Nine West purse, wouldn’t it be great to buy a Nine West fragrance to put in it?”
The perfume can be a little bit of a demographic play, as Krakow has her eyes set on smaller markets within the South and Midwest. “The fact that it’s a New York-born brand, it’s very attractive to people that live elsewhere. We’re going to bring New York City to those regions that are not just big cities.”
As beforehand reported by WWD, Authentic Brands Group is claimed to have confidentially filed for an preliminary public providing.
For extra from WWD.com, see:
Inside Nine West Cofounder and Shoe Magnate Vince Camuto’s Elaborate Estate
Tyra Banks, Nine West’s Brand Ambassador, on Modelland and More
ABG’s Jamie Salter on Buying and Building Brands