US auto maker Ford which is eying at becoming a significant player in the Indian car market by entering the compact car segment. Ford announcing plans to license its brand in the country to sell merchandise as part of an image building exercise.

As per report the company, through its global licence agent Beanstalk Group, has entered into a tie up with Delhi based licensing management firm Licence India for selecting licensees in the country for manufacturing and retailing of products.

Ford Global Brand Licensing Mark Bentley said that “We want to extend the brand through the licensing program. It will help in reaching to more consumers as well as creating brand awareness. The first product would be out in the market in the first half of next year.”

Ford, which entered India in 1995, has been struggling to make a mark in the country and has only 2.07% share in the over 1.2 million units Indian passenger car market. It will be launching its compact car Figo in India next year, with which it aims to be a significant player in the market.

Bentley said the company will introduce various merchandise in a phased manner, starting with car accessories, followed by apparel in the first quarter next year.

Bentley however did not disclose details regarding the sales target for Ford’s merchandise and the number of licenses the company plans to award in India.

(Sourced from Business Standards)