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Details on Industry Insight.
Iconix Brand Group Announces International Expansion Into India
Iconix Enters Into Direct-To-Retail Agreement with Arvind Limited for Mossimo in India
NEW YORK, Jan. 4, 2011 /PRNewswire/ -- Iconix Brand Group, Inc. (Nasdaq:ICON - News) ("Iconix" or the "Company"), today announced that it has signed its first license agreement in India. Iconix has entered into a long-term Direct-to-Retail (DTR) license with Arvind Limited ("Arvind") for its Mossimo ® brand in India.
Arvind, a multi-faceted wholesaler, retailer and distributer, will hold the exclusive multi-year license to manufacture and distribute Mossimo apparel and accessories throughout India. The Mossimo brand will be available in 170 stores in India, which are owned or franchised by Arvind. Arvind currently operates 170 stores with plans to grow to 500 stores by 2014. Mossimo is projected to launch in India during 2011.
Neil Cole, Chairman and CEO, Iconix, commented, “India is an exciting new frontier for Iconix as we continue to roll out our portfolio of brands throughout the world.” Cole added, “India’s growing middle class has a preference for American brands and retail outlets are quickly developing, making this a prime time for our expansion into the marketplace.”
J Suresh, MD and CEO Arvind Lifestyle Brands Ltd and Arvind Retail Ltd., said, "Mossimo in an internationally recognized brand and we are thrilled to work with Iconix to bring Mossimo into India. As the brand rolls out next spring, we foresee a very successful launch."
Mossimo is currently available in a range of retailers throughout the world from Target in the United States to free-standing stores in Australia and department stores in Latin America and Japan.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO (R) OCEAN PACIFIC(R), DANSKIN (R) ROCA WEAR(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R), ED HARDY (R), ECKO (R), MARC ECKO (R), ZOO YORK (R), MATERIAL GIRL(TM) and PEANUTS (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments Iconix manages its brands to drive greater consumer awareness and equity.
About Arvind Limited
Arvind is India's largest integrated textile player and is one of the oldest and most respected groups in the Textile Business in India. Arvind is also the world's largest producer of denim fabrics and is the supplier to a large number of fashion brands in the world. Arvind has been a pioneer in brining international brands to India and first brought Arrow to India in the year 1993. Arvind has licensing relationships with many international Brands viz: Gant, Arrow, Izod, Energie, US Polo Association & Cherokee. Apart from the portfolio of international brands through licensing agreements, Arvind also has JV's with VF Corp and Tommy Hilfiger. Arvind runs India's largest value retail chain, Megamart.