USA: Target Deal Helps Mossimo Reap $16.7m Royalties
Apparel and footwear designer Mossimo Inc today said royalty income from licensing in the fourth quarter to 31 December 2001 was $2.6 million compared to $1.2 million in the same period last year. In March 2000, the company entered into a multi-product licensing agreement with Target Corporation as a result of which it operates as a licensor and contributor of designs and no longer manufactures, sources or directly markets its products. Due to these changes Mossimo reported no net sales of such products in the fourth quarters of 2001 and 2000.
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