Iconix, Reliance launch Iconix India

HTT Staff -- Home Textiles Today, 5/8/2012 11:03:07 AM

New York -- Iconix Brand Group Inc. and Reliance Brands Limited have finalized the formation of their joint venture company in India - Iconix India.

For Iconix, the alliance marks the next step in the company's global expansion strategy, which includes similar existing partnerships in Greater China, Europe and Latin America.

Iconix is the parent of more than a dozen major brands, including Cannon, Royal Velvet, Fieldcrest and Charisma. Reliance is part of Reliance Industries Group, the largest private sector company in India.

Iconix India will be based in Mumbai and like Iconix in North America will follow a business model that focuses on growing royalty revenue through existing and new licensing agreements with manufacturers and retailers.