Iconix Lifestyle India acquires IP rights of Lee Cooper
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Iconix Lifestyle India Pvt Ltd, an equal joint venture (JV) between Reliance Brands Ltd and Iconix Brand Group Inc, has expanded its brand portfolio with the acquisition of IP rights in India of iconic British denim brand Lee Cooper.
Born in 1908, with its heritage in denim, Lee Cooper is a multi-category, dual gender brand with presence in 126 countries and over 2 million social followers.
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.
"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," Reliance Brands MD Darshan Mehta said.
Iconix Brand Group CEO and President Bob Galvin said that gaining Lee Cooper's IP rights aligns with its long-term strategic approach to grow its brand presence in India.
"We have a very 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," Galvin added.
The JV owns 24 fashion and home brands from the Iconix portfolio for the Indian territory, across fashion, lifestyle, and home.
