INDIA: Iconix and Reliance form joint venture
By Petah Marian | 22 February 2012
Iconix Brand Group today (22 February) announced a joint venture with Reliance Brands to sell labels like Ed Hardy, Mossimo, London Fog, and Ocean Pacific in India.
The deal will focus on growing royalty revenue through existing and new licensing deals with both manufacturers and retailers. It will also provide marketing and brand management services.
Existing Iconix businesses in India with brands such as Mossimo and Ed Hardy will be rolled into the partnership.
"Partnering with Reliance, a company that has a dominant presence in India, one of the most compelling retail growth areas in the world, is an essential next step in our global expansion strategy," said Iconix chairman and CEO Neil Cole.
"With this new partnership in place, and together with our existing global partnerships in other regions, we are on our way to achieving our long term goal of growing international revenue to a third of our total business."
Reliance Brands Limited, a unit of Indian conglomerate Reliance Industries, already has tie-ups with other brands to sell labels including Diesel, Paul & Shark and Timberland in India.
Sectors: Apparel, Manufacturing, Retail
Companies: Iconix, Reliance Industries, Timberland
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