NEWS | Reliance Brands and US-based Iconix Brand Group form a joint venture

<

Reliance Brands, a part of the Reliance Industries Group, and US-based brand management company, Iconix Brand Group have recently formed a joint venture company to sell the fashion and home brands including Ed Hardy, Mossimo, London Fog and Ocean Pacific in India.

The company will be based in Mumbai and will follow a business model similar to Iconix in North America, which focusses on growing royalty revenue through existing and new licensing agreements with both manufacturers and retailers, while providing marketing and brand management services.

Speaking on the occasion, Neil Cole, Chairman and CEO, Iconix Brand Group, said: “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. 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.”

Source: http://www.indiaretailing.com/news.aspx?topic=1&Id=6410