Katy Perry forms joint venture with Global Brands Group

London - US singer Katy Perry has formed a new joint venture with Hong Kong-based firm Global Brands Group to develop a range of products. The agreement, which was announced on Wednesday, extends the previous deal between Perry and the firm, the Katy Perry Footwear. The joint venture aims to grow the Katy Perry brand into a fully-fledged brand, with footwear, accessories and eventually apparel.

The first category to launch under the new 50-50 joint venture remains Katy Perry Footwear, which will be launched next January in the US and internationally for Spring 2017. The debut range, is likely to consist of approximately 60 styles and retail for between 59 US dollars and 299 US dollars. The collection will include sandals, sneakers, stilettos and pumps which reflect the signer own bright and colourful sense of style.

Katy Perry signs joint venture with Global Brands Group to develop own brand

"I am creatively stimulated and energized to be a real contributor in the affordable shoe industry," said Perry in an statement. The singer, who is a big fan of footwear designers Charlotte Olympia, Sophia Webster and Kurt Geiger, is keen to ensure her collections remains affordable for all her fans, who she hopes will become her consumers. "I believe your shoes can be the punctuation to your personality, and therefore I created a whole line of shoes that includes individualistic, colorful, dynamic designs for everyone, especially those who want to experiment with taking a bold step forward."

"Katy Perry is one of the most popular and well recognized personalities in the world,"said Bruce Rockowitz, Chief Executive Officer and Vice Chairman of Global Brands Group Holding Limited. "She pushes boundaries professionally and stylistically, setting trends along the way. We are extremely pleased about the positive response we have already received around the footwear collection, and look forward to the exciting opportunities this expanded partnership has to offer."

Perry shared a similar view on the extension of her partnership with Global Brands Group. "I’m excited that Global Brands Group is my partner because they hear and trust my vision, and bring expertise and knowledge that I’m absorbing and applying in a smart and creative way," added Perry. "Our footwear partnership is a strong foundation for endless opportunities as we explore the next natural design branches together." In an interview with WWD , the singer noted that Katy Perry apparel would likely come much further down the line, and she would likely branched into accessories first before tackling clothing. "But I think that is really far in the future."

Photo: Courtesy Global Brands Group