The division’s first licensing deal will introduce a clothing and accessories collection by Sofía Vergara (ABC’s “Modern Family”), created exclusively for Kmart. The collection will hit U.S. stores this fall. Latin World Licensing is currently negotiating other licensing deals involving talent on Latin World Entertainment’s roster.
There are more than 50 million Hispanics in the U.S. with $1 trillion in buying power, according to initial 2010 U.S. Census data. In addition, market studies report that Hispanics shop more frequently and pay more attention to advertising than non-Hispanics.
“Because the Hispanic market is growing at an unprecedented rate and Hispanic consumers are known to be exceptionally receptive to celebrity endorsements and branding, it is the perfect time for LWE to expand into the licensing industry,” says Luis Balaguer, founder and chairman of Latin World Entertainment.
