Arvind, Iconix sign licensing deal for Mossimo

Arvind the Indian textile and apparel major has signed a licensing agreement with Iconix Brand Group Inc for the Indian market. Through this deal Arvind will launch the Mossimo brand in India. Megamart the retail chain run by Arvind will hold the exclusive

multi-year license to manufacture and distribute Mossimo apparels and accessories across India.

"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," said Iconix Chief Executive Neil Cole in a statement. "India is an exciting new frontier for Iconix as we continue to roll out our portfolio of brands throughout the world," he adds. The long term direct to retail license is Iconix’ first such agreement in India.

Under the terms of the deal, Arvind, a multi-faceted wholesaler, retailer and distributor, will hold the exclusive multi-year license to manufacture and distribute Mossimo apparel and accessories throughout India. The brand is projected to launch in India in 2011. The Mossimo brand will be available in 170 stores in India, which are owned or franchised by Arvind. It may be noted that Arvind currently operates 170 stores with plans to grow to 500 stores by 2014.

On signing the deal J Suresh, MD and CEO Arvind Lifestyle Brands and Arvind Retail, says, "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.

Iconix Brand Group owns licenses and markets a growing portfolio of consumer brands including Candie’s, Bongo, and Joe Boxer among others. In addition, Iconix owns an interest in the Artful Dodger, Ed Hardy, Ecko, Mark Ecko, Zoo York, Material Girl and Peanuts 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 US 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.

Arvind on the other hand is India's largest integrated textile player and is one of the oldest and most respected groups in the textile business in India. It is also the world's second 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. It has licensing relationships with many international Brands viz: Gant, Arrow, Izod, Energie, US Polo Association and Cherokee. Apart from the portfolio of international brands through licensing agreements, Arvind also has JV's with VF Corp and Tommy Hilfiger. It runs India's largest value retail chain, Megamart.