The new entity will be jointly owned and managed by both companies and based in Montreal, Quebec, Canada. A Toronto showroom will be added and a dedicated sales team.
"Many of our licensors turn to Concept One for expertise in product development and sourcing, and have expressed an interest in granting us additional rights in Canada," says Sam Hafif, chief executive officer, Concept One. "In many agreements we already have those rights. However, in order to fully exploit the territory, we felt it was critical to partner with a Canadian firm that has existing and widespread distribution in Canada. We believe NTD is the perfect partner, because of their strength and reputation, and because of their similar licensing model to ours."
"Concept One is the perfect partner,” says Michael Eliesen, chief executive officer, NTD. “They share our vision to build a dominant licensed accessories company in Canada. Concept One brings the industry experience and the category success to make that vision a reality. We are all looking forward to the growth of this new company."