The company, WFL (www.wfl printing.com) already has offices in Los Angeles, New York, Singapore, Hong Kong, China, Taiwan and Turkey.

Its European base is to be sited in St John’s Street in the city, with a major trade launch set to take place later this month.

Established in 1953, WFL works with fashion retailers, designer brands and manufacturers across the USA, Asia and Europe, producing a top-quality range of labels and packaging to the fashion industry.

Its products include woven labels, printed labels, jacquard tapes, zipper pulls, and card and paper-based printed labels as well as hang tags, and luxury gift boxes.

Peterborough businessman Alistair Atkinson, who has more than 25 years of experience in the label and ticketing industry, will be heading up the UK and European operation.

Mr Atkinson said: “We are very excited to at last have a base in the UK and bring a global business to the city.

“Not only will this give retailers in the fashion industry an alternative excellent supplier to choose from, but it will further help to establish Peterborough’s growing reputation as a city of thriving commerce and industry.”

WFL estimates that its customers could typically save between 10 per cent and 20 per cent on current suppliers’ prices by reducing the links in the supply chain.

The UK office will serve as the European base, with manufacturing being carried out in various production centres throughout the world.