Iconix Lifestyle India, an equal joint venture between Reliance Brands and Iconix Brand Group Inc, on Wednesday announced the acquisition of IP rights in India of the iconic British brand Lee Cooper for an undisclosed amount.
The acquisition will allow Iconix Lifestyle India to expand its brand portfolio into the Indian market and the presence of Lee Cooper here through enabling the brand’s distribution across all retail channels while strengthening marketing and brand management, according to a joint statement.
Reliance Brands Managing Director Darshan Mehta said, “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.”
Iconix Brand Group CEO and President Bob Galvin said gaining Lee Cooper’s IP rights aligns with the company’s long-term strategic approach to growing brand presence in India.
“We have a strong commitment to the ongoing success, and this development provides the opportunity to operate directly in a quickly expanding market and to bring this iconic high-quality brand to a new audience,” he added.
Born in 1908, Lee Cooper, an original British denim brand, is a multi-category, dual-gender brand with a presence across 126 countries, retailing over 7,000 points of sale.
Iconix Lifestyle India is a joint venture between Reliance Brands Limited (RBL), part of the retail arm of billionaire Mukesh Ambani-owned Reliance Industries, and Iconix Brand Group Inc.
It owns 24 fashion and home brands from the Iconix portfolio for the Indian territory across fashion, lifestyle and home. PTI KRH