- Meenakshi Kumar |
Future Specialty Retail (FSRL) the fully-owned subsidiary of Future Lifestyle Fashions (FLF) has renewed its license agreement with Lee Cooper. The new licensing agreement for Lee Cooper brand owned by Iconix Brand Group, will give FLP exclusivity to manufacturing and marketing rights for Lee Cooper clothing and footwear across all distribution channels in India.
Future Lifestyle Fashion had reported net profit of Rs 44 crore with a revenue of Rs 1,237 crore for the quarter ended December 2017. FLP is optimistic that the deal renewal will help it tap the footwear segment in India and also emerge as the country’s leading denim brand.
Rakesh Biyani, Director, Future Group said the company is delighted to extend its decade-long association with Iconix Brand Group. Lee Cooper is one of the most popular brands, across all markets, both in terms of demand and sales. He further added that Lee Cooper will continue to lead the denim lifestyle segment by extending the product offering to include footwear. Most importantly, this agreement will give an opportunity to strengthen and enhance the share in the growing footwear market in India.
Lee Cooper is a British denim brand owned by Iconix Brand Group. It is sold in India at retail outlets like Central, FBB, Brand Factory and exclusive outlets owned by Future Group. The brand is also available on leading fashion stores and online platforms across the country. Future Lifestyle Fashions ended the quarter with a total of 345 retail stores for all its brands across India.