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I followed up with a few questions for Mossimo Giannulli about Modern Amusement and its different licensing arrangements.
He answered the questions via email.
Earlier today, Modern Amusement announced that Billabong has acquired a three-year global license for Modern Amusement watches and sunglasses.
Pacific Sunwear has the master license for apparel, footwear, and accessories for the Modern Amusement brand. When that deal was announced, the two companies said they would work together on additional licensing opportunities and the development of other domestic and/or international distribution.
PacSun will share in any amounts generated from other Modern Amusement licenses.
Mossimo: The Crow is a globally recognized icon and to be able to quickly establish a worldwide footprint under Billabong's proven infrastructure is incredible. Not only is Billabong's reach enviable, but their company is entirely world class. We have signed licensees that are best in their categories and who work with an amazing stable of brands from Hurley to Ralph Lauren, Nixon to Skullcandy.
The time is right to open the unique aesthetic of Modern Amusement to a broader audience and make it more accessible. As such, I have structured these partnerships differently than the (Direct to Retail agreements) I have done in the past. We are extending beyond the distribution of PacSun, and into our licensees account bases of boutiques, specialty stores and retail merchants worldwide.
Absolutely. And, PacSun is excited about the innovative approach of it. The trifecta partnership between Billabong, PacSun and Modern Amusement will harness the best assets of each company – distribution, retail and creative – to extend and grow Modern Amusement and our respective businesses.
Manhattan Beachwear, as with the rest of our previously announced licensees, are global partnerships. We're excited about our active conversations for the international distribution of apparel.