Himatsingka enters into partnership with Walt Disney for expanding its footprint in Europe
Himatsingka Seide Ltd today announced that it entered into a licensing agreement with the Walt Disney Company for the European region. It will give Himatsingka the rights to the design, develop, manufacture and distribute a broad range of home textile products inspired by Disney's vast archives and characters from all its franchises including Disney, Marvel, Pixar and Lucas.
Reacting to this news, the stock of Himatsingka Seide today jumped 8.97 per cent and made an intraday high of Rs 161.50 per share.
The partnership with Disney is in line with companies strategy to expand its global brand portfolio. This partnership marks the commencement of Himatsingka's relationship with Disney, the world's largest entertainment franchise.
Himatsingka will distribute an expansive range of licensed home textile products across Germany, United Kingdom, France, Italy, Spain, Central and Eastern Europe, the Nordics and South Africa.
Himatsingka is a textile company with a global footprint. The company designs, develop, manufactures and distributes textile products.
According to BSE data, the stock traded at a price-to-book ratio of 0.99.
At the time of market closing, the stock of Himatsingka Seide Ltd was trading at Rs 156.85, up by 5.84 per cent on BSE.