Arvind Ltd has entered into a long-term Direct-to-Retail (DTR) licence with Iconix Brand Group Inc for its Mossimo brand. Under the agreement signed recently, the multi-faceted wholesaler, retailer and distributor will hold the exclusive multi-year licence to manufacture and distribute Mossimo apparel and accessories across India.
Projected to be launched in India this year, the Mossimo brand will be available at all 170 stores owned or franchised by Arvind, which plans to expand its retail network to 500 stores by 2014.
Calling India an exciting new frontier for Iconix, Neil Cole, chairman and CEO, Iconix, said, “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 market.”
– IndiaRetailing Bureau