Iconix-Reliance JV in India to acquire Lee Cooper brand rights

·1-min read
FILE PHOTO: A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar

MUMBAI (Reuters) - A joint venture between India's Reliance Industries Ltd and U.S.-based Iconix Brand Group has acquired the brand rights for Lee Cooper denim in the south Asian country, the companies said on Wednesday.

Iconix, which owns international rights to the brand, had previously licensed Indian retailer Future Group to sell Lee Cooper products in India, but that arrangement ended earlier this year.

The Indian JV between Reliance and Iconix already owns 24 fashion and home brands from the Iconix portfolio, including Ed Hardy.

Reliance, run by India's richest man Mukhesh Ambani, is the parent company of the country's biggest retailer Reliance Retail. The retail business already has partnerships with global brands such as Burberry and Jimmy Choo via franchises and joint ventures.

Lee Cooper's "affinity among consumers gives us a strong foundation to rebuild the brand in the country," said Darshan Mehta, the chief executive of Reliance Brands, which manages such partnerships for the group.

(Reporting by Aditya Kalra and Abhirup Roy; Editing by Euan Rocha and Jan Harvey)

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