Alkosign Ltd., a leading diversified company with interests in lifestyle products, has announced that it has signed a license agreement with Baggit India Private Limited, a leading manufacturer and retailer of bags and travel accessories, for the use of goodwill for the brand name ‘Baggit’.
Under the terms of the agreement, Alkosign Ltd. will have the exclusive right to use the ‘Baggit’ brand name for its range of lifestyle products. The agreement will initially be for a period of five years, with the option to extend it for an additional five years.
The license agreement is a significant step for Alkosign Ltd., as it will allow the company to leverage the strong brand equity of ‘Baggit’ to expand its product portfolio and reach a wider audience.
“We are delighted to have signed this license agreement with Baggit India Private Limited,” said Samir Shah, CEO of Alkosign Ltd. “The ‘Baggit’ brand is a well-respected name in the lifestyle products industry, and we believe that this agreement will allow us to further strengthen our position in this market.”
“We are confident that this license agreement will be a mutually beneficial partnership,” said NINA LEKHI, CEO of Baggit India Private Limited. “Alkosign Ltd. has a proven track record of success in the lifestyle products industry, and we believe that they will be able to further develop the ‘Baggit’ brand.”
The license agreement is expected to have a positive impact on the financial performance of both Alkosign Ltd. and Baggit India Private Limited. Alkosign Ltd. expects to see an increase in sales of its lifestyle products, while Baggit India Private Limited will receive royalties from the use of its brand name.
About Alkosign Ltd.
Alkosign Ltd. is a diversified company with interests in lifestyle products, packaging, and industrial products. The company has a strong track record of success, and is committed to providing its customers with high-quality, innovative products.
About Baggit India Private Limited
Baggit India Private Limited is a leading manufacturer and retailer of bags and travel accessories. The company has a strong brand presence in India, and is expanding its international presence. Baggit India Private Limited is committed to providing its customers with stylish, functional, and affordable products.