Iconix Brand Group has expanded its international reach with the acquisition of British lifestyle brand Lee Cooper for $72 million.
What started as a denim brand in 1908, has expanded into multiple categories including men's and women's casualwear, footwear and accessories over its 100-year history. Today, Lee Cooper is a pure licensing business with more than 35 international licensees, including Landmark in the Middle East and Future Group in India.
The brand is sold in more than 80 countries, predominantly in Europe, Asia and the Middle East and represents approximately $500 million in annual global retail sales.
"We are excited to add another truly global brand to our portfolio and expect with the addition of Lee Cooper, our international business to represent approximately 33 percent of our overall business in 2013,” says Neil Cole, chief executive officer, Iconix. “With Lee Cooper's portfolio of international licensees we look forward to leveraging these new relationships to further grow our worldwide footprint."