Reliance Retail is likely to be the local licensor partner of the over 100-year-old-brand that sells apparel for men, women and children, footwear, bags, accessories, watches and other products, said a top executive at Iconix Lifestyle India.
NE BUSINESS BUREAU
MUMBAI, OCT 27
Iconix Lifestyle India Private Limited, a joint venture between homegrown Reliance Brands Limited (RBL) and American firm Iconix Brand Group Inc, on Wednesday announced the acquisition of IP rights of British brand Lee Cooper for the Indian market.
The JV, Iconix Lifestyle, will not operate any stores but instead appoint a local licensor to operate Lee Cooper stores as well as run the brand’s online operations in the country. Lee Cooper, the original British denim brand, was founded in London in 1908.
Reliance Retail is likely to be the local licensor partner of the over 100-year-old-brand that sells apparel for men, women and children, footwear, bags, accessories, watches and other products, said a top executive at Iconix Lifestyle India.
“We will work with a partner whom we will give a long-term license to and then that partner will operate, of course in collaboration with us. In all likelihood Reliance Retail, which is independent of Iconix, would be a partner,” said Darshan Mehta, managing director, RBL and director on the Board of Iconix Lifestyle India Private Limited.
To be sure, the Iconix Lifestyle India joint venture owns rights to almost two dozen fashion and home brands from the Iconix Brand Group’s global portfolio for the Indian territory. These are across fashion, lifestyle and home categories and include brands like Candie’s, Bongo, Badgley Mischka, Rampage, Mudd, Danskin, Ecko Unltd., Ocean Pacific, London Fog, Starter, Ed Hardy, Joe Boxer, Umbro, Rocawear, Artful Dodger and Marc, among others. It typically works by handing out long-term licenses to local partners and earns a royalty income in turn.
In all, these brands are sold across 2,500 points of sales.
The acquisition of IP for Lee Cooper will allow Iconix Lifestyle India to expand the brand’s presence in India by enabling distribution across all retail channels and strengthening marketing and brand management, the JV partners said in a statement to the press.
“Gaining Lee Cooper’s IP rights aligns with our long-term strategic approach to growing our brand presence in India,” said Bob Galvin, chief executive officer and president, Iconix Brand Group Inc and director on the Board of Iconix Lifestyle India Private Limited.
