Latin World Entertainment (LWE), the Hispanic talent management and entertainment marketing firm in the United States, headed by founder and Chairman of the Board Luis Balaguer, announced the formation of its new licensing division, Latin World Licensing. LWE is joining forces with veteran licensing executive Nancy Overfield-Delmar and prominent apparel executive Paul A. Robb for this endeavor.
Overfield-Delmar will serve as President and Robb will be Chief Operating Officer of Latin World Licensing. LWE's first licensing deal will introduce a clothing and accessories collection by Sofía Vergara (star of ABC's "Modern Family”), created exclusively for Kmart.
Market studies have shown that Hispanics shop more frequently and pay more attention to advertising than non-Hispanics. According to initial findings from the 2010 U.S. Census survey, 51 percent of the total U.S. population growth from 2000 to 2010 came from Hispanics, who now total over 50 million people with $1 trillion in buying power.
The Sofía Vergara Collection will be introduced in Kmart stores nationwide in the fall of 2011. Latin World Licensing is currently negotiating other major licensing deals involving top-notch stars and opinion makers on the LWE talent roster.