New Delhi: Seeking to extend the scope of the Blue Oval outside of its core automobile business, Ford Motor Co. entered into an agreement to license its brand in India.
The brand will be licensed by The Beanstalk Group, which is responsible for all of Ford’s brand licensing worldwide, to Licence India. Merchandise and accessories featuring the Ford brand accounted for retail sales of $1.5 billion (Rs7,125 crore) worldwide in 2008, according to Mark Bentley, licensing manager at Ford Motor.
Licence India said it expects to launch accessories in India by the first quarter of next year. The company declined to comment on how large the Indian market for such products is.