Fri. Mar 29th, 2024

Iconix Lifestyle India Pvt Ltd, an equal joint venture (JV) between Reliance Brands Ltd and Iconix Brand Group Inc announced on Wednesday its acquisition of the intellectual rights of British denim brand Lee Cooper, expanding its brand portfolio. Reliance Brands Limited (RBL) is part of the retail arm of Ambani-owned Reliance Industries.

The JV owns 24 fashion and home brands from the Iconix portfolio for the Indian territory across fashion, lifestyle and home.

The acquisition will allow Iconix Lifestyle India to “expand Lee Cooper’s presence in India through enabling the brand’s distribution across all retail channels while strengthening marketing and brand management,” as stated in the official statement released.

“Lee Cooper’s brand history and unparalleled relevance in the Indian market makes it the most prestigious acquisition for the JV. It’s the go-to denim brand that liberalised India grew up with and its affinity among consumers gives us a strong foundation to rebuild the brand in the country,” said Darshan Mehta, managing director of Reliance Brands Ltd and director on the Board of Iconix Lifestyle India Private Ltd.

Bob Galvin, chief executive officer and president of Iconix Brand Group Inc and director on the Board of Iconix Lifestyle India Private Ltd, said, “Gaining Lee Cooper’s IP rights aligns with our long-term strategic approach to growing our brand presence in India. The company believes this development will give the much-needed boost to the group to operate directly in a quickly expanding market and to bring this iconic high-quality brand to a new audience.”

With its specialty in denim, Lee Cooper is a 1908 born brand that has emerged as a multi-category, dual-gender brand with its presence across 126 countries, 7,000 points of sale, and over 2 million social followers. The brand produces across multiple categories including apparel for men, women and children, footwear, bags, accessories, watches, swimwear, workwear, eyewear, fragrance, homeware and personal electronics.

Leave a Reply

Your email address will not be published. Required fields are marked *