Iconix Brand Group and Reliance Brands Limited Announce Formation of a New Joint Venture in India
Surfersvillage Global Surf News, 22 February, 2012 : - - Iconix Brand Group, Inc. (NASDAQ: ICON) and Reliance Brands Limited, a part of the Reliance Industries Group, the largest private sector company in India, today announced the formation of a joint venture company in India. The partnership marks the next step in a global expansion strategy for Iconix, which currently has other similar partnerships in Greater China, Europe and Latin America.
The new joint venture will own the fashion and home brands from the Iconix portfolio for the Indian territory, which includes iconic brands such as Ed Hardy, Mossimo, London Fog and Ocean Pacific. The new joint venture, which will be based in Mumbai, will follow a similar business model to that of Iconix in North America, which focuses on growing royalty revenue through existing and new licensing agreements with both manufacturers and retailers, while providing marketing and brand management services. Existing Iconix business in India with brands such as Mossimo and Ed Hardy will also be rolled into the partnership.
Author: Jaime Sheinheit / Investor Relations
Tags: Iconix Group, Ocean Pacific,