NexCen Brands, Inc., Announces Strategic Partnership With Welspun Usa To Expand Waverly Brand
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NexCen Brands, Inc., Announces Strategic Partnership With Welspun Usa To Expand Waverly Brand

January 23, 2008 // Franchising.com // NEW YORK, -- NexCen Brands Inc., ("NexCen") (Nasdaq: NEXC) parent company of the Waverly brand announced today its alignment with Welspun USA in a key strategic partnership to expand the Waverly brand into new lifestyle categories. Welspun will immediately become the Waverly licensee for Bath Towels, Bath, Accent & Scatter rugs, Down & Synthetic filled Comforters/Blankets, and Pillows & Mattress pads catapulting the Waverly brand into new home categories and broadening its complete consumer offerings at retail.

"NexCen is committed to developing best-in-class resources to our portfolio of brands. Our decision to partner with Welspun is a critical component to our licensing strategy and core to our mission of building value for our stakeholders," commented Robert W. D'Loren, President and CEO of NexCen Brands, Inc. D'Loren also added, "We wanted more than just a licensing agreement and with Welspun we found a partner who can deliver the level of quality, service and product that our Waverly consumers expect from our brand."

"This relationship with Welspun is a giant leap forward to the goal of expanding the Waverly brand into a complete lifestyle resource for our Waverly consumers. Welspun's market leader position gives it the strength and ease to develop immediate new product introductions in the U.S. market and beyond" states Rick Platt, President of Waverly.

"The tradition of excellence that Waverly has exhibited over the decades is a resounding endorsement that adds new credibility to product innovation and design leadership" says Bob Hamilton Director of Marketing for Welspun. "Waverly has an important following of loyal consumers who we are targeting for growth in the future". Charles Gaenslen, Welspun Chief Operating Officer adds, "We are beginning to partner with brands that have unique creative design and product positions which broaden our reach and respond to our strategic commitment to meeting real consumer needs. Waverly is an important addition to our brands portfolio."

About Waverly (www.waverly.com)

Launched in 1923, Waverly is a premier home fashion and all encompassing lifestyle brand and one of the most recognized names in home furnishings. Its signature look is expertly translated into countless classic styles among home furnishing products including fabrics, wall coverings, paint, bedding, window treatments, decorative accessories and other key products. Waverly is available through retailers and interior design showrooms in over 7,000 doors nationwide. Its family of brands consists of Waverly, Waverly Home, Waverly Home Classics, Waverly Baby, and Waverly Sun N Shade. Key vendor partners include PK Lifestyles, Blue Mountain, Ellery Homestyles, Lowes and Target. NexCen Brands Inc. purchased the Waverly brand in May 2007.

About Welspun USA (www.welspun.com)

Welspun is one of the fastest growing industrial conglomerates whose dynamic growth reflects a global amalgamation of management expertise, resource allocation, and engineering excellence. Welspun has achieved a growing presence in 50 countries with annual revenues exceeding $1.0 billion and a market capitalization of $1.2 billion. From its beginnings in the mid 80's as a regional Asian textile company, it has grown dramatically into diverse worldwide industries and market positions including textiles, steel and retail enterprises. It currently consists of six distinct operating units consisting of over 18,500 employees and assets of over $1.0 billion. Welspun is currently recognized as a preferred supplier to 14 of the top 20 retailers worldwide and has been acknowledged by its customers as a global leader in each business it operates. It recently has added to its strategic complements with the acquisitions of Christy of England and Sorema of Portugal.

About NexCen Brands, Inc. (Nasdaq: NEXC) (www.nexcenbrands.com)
NexCen Brands, Inc. is the premier 21st century vertically integrated global brand management company focused on assembling a diversified portfolio of intellectual property-centric companies operating in the consumer branded products and franchise industries. The Company owns, licenses, franchises and markets a growing portfolio of consumer and franchise brands including The Athlete's Foot®, Bill Blass®, MaggieMoo's®, Marble SlabCreamery®, Pretzel Time®, Pretzelmaker®, Shoebox New York ™ and Waverly®. The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that includes every major segment of retail distribution from the luxury market to the mass market in the U.S. and in over 50 countries around the world, and consists of more than 1,500 franchised stores. NexCen, through its information technology, franchisee support systems and advertising, marketing and public relations team, markets its brands to continually drive greater consumer awareness and brand equity for each of its brands. NexCen touches nearly every aspect of a consumer's lifestyle from the food they eat to the furnishings in their homes and the clothes and footwear they purchase.

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