Tuesday, May 15, 2012: 08:59:33 PM


Reliance Brands Inks Joint Venture Pact with Iconix

Mukesh Ambani's Reliance Brands has signed a joint venture deal with the US-based Iconix Brand to acquire rights of 20 lifestyle brands in India. The joint venture will feature Iconix brandsóLondon Fog, Ed Hardy, Mossimo, Mudd and Ocean Pacific, which are valued at a combined revenue of $12 bn globally.

Iconix Brand Group, a brand management company that licenses brands to retailers and manufacturers, sold part of its stake and rights to Reliance Brands. The group had signed a licence agreement last year with Arvind Lifestyleís Megamart for selling its youth brand Mossimo in the country. The Mumbai-based business collaboration follows a similar Iconix business model, which licenses the brands to local retailers in return for royalty payments. The joint venture will keep the brand management, marketing and business development rights for all the brands. As a part of its global expansion policy, Iconix Brand Group has planned business partnerships in China, Europe and Latin America. Reliance Brands currently has brand partnerships for Diesel, Ermenegildo Zegna, Hamleyís, Kenneth Cole, Paul & Shark, Quiksilver, Roxy, Steve Madden and Timberland.

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