Iconix buys IP rights of Lee Cooper
On 27th October 2021, Iconix Lifestyle India Pvt Ltd an equal joint venture between Reliance Brands and Iconix Brand Group Inc, announced the acquisition of IP rights in India of the iconic British brand Lee Cooper for an undisclosed sum. Lee Cooper is a multi-category, dual gender brand with presence in 126 countries and over 2 million social followers, born in 1908, with its heritage in denim. By enabling the brand’s distribution across all retail channels apart from strengthening marketing and brand management, the acquisition will allow Iconix Lifestyle India to expand Lee Cooper’s presence in the country.
Darshan Mehta, Managing Director, Reliance Brands Ltd. and Director on the Board of Iconix Lifestyle India said, “Lee Cooper’s brand history and unparalleled relevance in the Indian market makes it the most prestigious acquisition for the JV. It’s the go-to denim brand that liberalised India grew up with and its affinity among consumers gives us a strong foundation to rebuild the brand in the country.”
CEO and President of Iconix Brand Group Inc and Director on the Board of Iconix Lifestyle India, Bob Galvin said, “Gaining Lee Cooper’s IP rights aligns with our long-term strategic approach to growing our brand presence in India. We have a very strong commitment to the ongoing success, and this development provides the opportunity to operate directly in a quickly expanding market and to bring this iconic high-quality brand to a new audience.”
Reliance Brands was recently in the news when it procured a 40 percent stake in design creator Manish Malhotra’s MM Styles Pvt Ltd. So far, Reliance Brands, the arm of Reliance Retail has bought in excess of 35 global brands in India.