New Delhi: Iconix Lifestyle India, a joint venture company (JV) between the reliance brand and the Iconix brand brand, has obtained intellectual property rights from British Denim Wear Leper Lee Cooper for India.
Distribution and manufacturing rights from this were previously held by future lifestyle modes, future group companies that run the central and brand factory outlets.
This development approaches retail reliance business heels, retail reliance industries (RIL), striking deal with 7-Eleven to launch shops throughout India, days after the convenience store chain ends with its agreement with the agreement.
Future groups that are full of debt.
“Lee Cooper also establishes a very strong presence in the footwear market, so between Lee Cooper’s clothes and Lee Cooper shoes, it is a very large, strong business,” Darshan Mehta, MD in Reliance Brands and Director at the Indian Iconix Lifestyle Board, Told Toi.
After dealing with the Iconix brand group, Iconix Lifestyle India will be a license and will get the right to appoint a license holder for brands on the Indian market.
Reliance retail can be a license holder.
“Lee Cooper ended the agreement with future lifestyle mode a few months ago,” said an industrial senior executive.
While US Fashion Company Iconix Brand Group is the parent Lee Cooper, a brand purchased from the private equity company Sun Capital Partners in 2013 for $ 72 million, the future group led by Kishore Biyani has signed a contract with retail sales for the sale of the majority of its assets, including fashion The future lifestyle until the last for Rs 24,700 Crore.
The proposed agreement has been opposed by the Amazon US e-tailer involved in bitter legal battles with future groups for alleged violations of the contract.
The Lee Cooper deal arrived with a background of dependence on a large bet on the Desi Couture brand, Kumar and Manish Malhotra.
JV has 24 fashion and home brands from the iConix portfolio for the Indian market crossing fashion, lifestyle and home.