UK: International Brand Licensing signs strategic deal
International Brand Licensing (IBL), owner of the Admiral sportswear
brand, has signed a license deal with @miral BV for the territory of Benelux, Germany, Austria, and Switzerland.
As part of a ten-year agreement, which has an optional five-year renewal, @miral will use its design, development, and marketing resources to develop seasonal programmes for IBL's network of international licensees.
Sales revenues in the @miral territory are forecast to total more than EUR 60m through the initial term. As part of the agreement @miral will be granted 250,000 shares in IBL together with a further 650,000 share options at 18.50p exercisable over five years from date of grant.
IBL chief executive Tony Hutchinson said: "We are delighted to have signed this new agreement with @miral. Not only will this significantly accelerate Admiral's growth in @miral's own territory, but their extensive and talented product and marketing resources will be of major benefit to all Admiral licensees worldwide."
Admiral is the official kit sponsor of the England and West Indies cricket teams and Leeds United Football Club, and is sold at ASDA stores and sports independents throughout the UK.
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