Iconix partners with Reliance to expand into India
HTT Staff -- Home Textiles Today, 2/22/2012 2:48:45 PM
New York - Iconix Brand Group Inc. plans to enter India through a new alliance with Reliance Brands Limited.
Reliance, a part of the Reliance Industries Group, said to be the largest private sector company in India, has formed a joint venture company with Iconix based in Mumbai. It will follow a business model similar to that of Iconix in North America, which focuses on generating royalty revenue through licensing agreements with manufacturers and retailers while providing marketing and brand management services.
The joint venture will own the fashion and home brands from the Iconix portfolio for the Indian territory. Existing Iconix business in India with brands such as Mossimo and Ed Hardy will also be rolled into the partnership.
Iconix has similar partnerships in China, Europe and Latin America.
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