Future Speciality Retail Extends Its License Agreement With Lee Cooper
2018-04-05 Business Deals / Tie-ups Textiles & Textile Products National
Future Speciality Retail Limited (FSRL), a material subsidiary of Future Lifestyle Fashions (FLF) strengthens its fashion portfolio by signing a long-term license agreement for the Lee Cooper brand owned by Iconix Brand Group, Inc. effective from 1st April 2018, FSRL will have the exclusive license to manufacture and market Lee Cooper clothing and footwear across all distribution channels in India and permitted territory.
Since 2007, Future Group has been the exclusive licensee to manufacture and market clothing for men, women and kids, presently hold through FSRL. With the long-term license for footwear, FSRL will extend its range to include footwear for men, women, girls and boys. By bringing the entire Lee Cooper product range under one licensee, Lee Cooper will emerge to be India’s number 1 denim lifestyle brand.
Speaking about the agreement Mr Rakesh Biyani, Director, Future Group said, “We are delighted to extend our decade-long association with Iconix Brand Group, Inc. Lee Cooper is one of our most popular brands, across all our markets, both in terms of demand and sales. By extending the product offering to include footwear, Lee Cooper will continue to lead the denim lifestyle segment. Most importantly, this agreement will give us an opportunity to strengthen and enhance our share in the growing footwear market in India.
Lee Cooper is an authentic British denim brand owned by Iconix Brand Group, the world’s premier brand management company that owns a diversified portfolio of strong consumer brands across categories, such as fashion, sports and home. Currently, Lee Cooper apparel is sold at various retail outlets like Central, fbb, Brand Factory and exclusive outlets owned by Future Group. The brand is also retailed through leading fashion stores and online platforms across India. During FY 2016-17, Lee Cooper recorded a gross sales of Rs. 651 Cr. in consolidated financials of Future Lifestyle Fashions.