Future Lifestyle Fashions extends license agreement with Lee Cooper

In a bid to strengthen its fashion portfolio, Future Specialty Retail Limited (FSRL) the fully-owned subsidiary of Future Lifestyle Fashions (FLF) has signed a long-term license agreement for the Lee Cooper brand owned by Iconix Brand Group, Inc. As per the pact, FSRL will now have the exclusive license to manufacture and market Lee Cooper clothing and footwear across all distribution channels in India. Since 2007, Future Lifestyle Fashions has been the exclusive licensee to manufacture and market clothing for men, women and kids. 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 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 FY2016-17, Lee Cooper recorded a gross sales of Rs. 651 Cr. for Future Lifestyle Fashions.