Iconix Brand Group Inc. said Tuesday that it signed its first license agreement in India with Arvind Limited for its Mossimo brand.
Arvind will hold the exclusive multi-year license to manufacture and distribute Mossimo apparel and accessories throughout India this spring. As part of the deal, the brand will be available in 170 stores in India, which are owned or franchised by Arvind.
“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 chairman and chief executive officer Neil Cole.
Mossimo is currently available in retailers such as Target Corp. in the United States, as well as at free-standing stores in Australia and department stores in Latin America and Japan.
The India-based wholesaler, retailer and distributer, currently operates 170 stores, and plans to grow to 500 stores by 2014.
For complete coverage, see Wednesday’s WWD.