Reliance Brands forms joint venture with Iconix

The new venture will be based in Mumbai and the existing brands of Iconix, Ed Hardy and Mossimo will also be rolled out into the partnership, the companies said in a statement.

Mukesh Ambani-led Reliance Brands, a subsidiary of the group’s retail venture Reliance Retail, has announced the formation of a joint venture with the US-based Iconix Brand to hawk the latter’s brands including London Fog and Ocean Pacific.
The new venture will be based in Mumbai and the existing brands of Iconix, Ed Hardy and Mossimo will also be rolled out into the partnership, the companies said in a statement.

The Nasdaq-listed Iconix had signed a licence agreement last year with Arvind Lifestyle’s Megamart for selling its youth brand Mossimo in the country.

“Partnering with Reliance is an essential next step in our global expansion strategy,” Iconix Brand chairman and chief executive, Mr Neil Cole, said.

“With this new partnership, and together with our existing global partnerships, we are on our way to achieving our long-term goal of growing international revenue to a third of our total business,” Mr Cole further said.

Iconix has other similar partnerships in China, Europe and Latin America.

“Having the ability to leverage the global strength of the Iconix portfolio, and building a larger presence for them here, is an incredible proposition. This fits very well into Reliance Brands’ vision of creating long-term value through multiple models of partnerships in the fashion and retail business,” Reliance Brands chief executive, Mr Darshan Mehta, said.

Reliance Brands currently has brand partnerships for Diesel, Ermenegildo Zegna, Hamley’s, Kenneth Cole, Paul & Shark, Quiksilver, Roxy, Steve Madden and Timberland.


Hero MotoCorp partners with US-based Erik Buell Racing

Hero MotoCorp formed the partnership to bring next-generation high-end bikes to India. It will further augment R&D capabilities through multiple alliances.

Hero MotoCorp Ltd (HMCL), said it partnered with US-based Erik Buell Racing (EBR) for sharing technology. As part of the partnership, HMCL will receive support in terms of cutting-edge technology and design to develop future models from EBR - the East Troy, Wisconsin-based firm, which specializes in designing and manufacturing powerful and high-speed motorcycles.
Announcing this, Pawan Munjal, managing director and chief executive officer, Hero MotoCorp, said “It gives me immense pleasure to welcome Erik Buell to the exciting world of Hero MotoCorp. This is in keeping with my objective of quickly scaling up our own in-house R&D capabilities to a global two-wheeler technology power-house by leveraging a network of strategic international alliances. Erik and his team have been working closely with our engineers and designers to develop our next-generation range of products with cutting-edge technology and first-of-its-kind features.”
Erik F Buell, chairman and CTO of EBR, said “EBR is delighted to partner with a company as iconic as Hero MotoCorp. Both HMCL and EBR share the common commitment to manufacturing world-class two-wheelers with technology of the future. I have personally been deeply impressed with and inspired by Pawan’s vision. He has given us a challenging brief, and our highly-motivated team is working towards giving shape to that dream. We look forward to designing technology solutions which are in line with contemporary global standards and also futuristic in their appeal and utility.”
Through this alliance, Hero MotoCorp will also, for the first time, enter the exciting world of international motorcycle racing. The company will mark its foray into the racing arena by sponsoring two teams: Team Hero and AMSOIL Hero - a first by any Indian two-wheeler company at the AMA Pro Racing National Guard Superbikes Championship. Popular young racer Danny Eslick will represent “Team Hero” while another well-known racer Geoff May will represent team AMSOIL Hero – both riding on EBR 1190RS bikes.
Hero MotoCorp also showcased the EBR 1190RS bike at the press conference. The first race is scheduled at the Daytona Speedway, at Daytona beach, Florida, USA between 15 March 2012 and 17 March 2012.
Hero MotoCorp is also developing the concept hybrid scooter called ‘Leap’, showcased at the recently-concluded Auto Expo, in collaboration with EBR.  
EBR 1190RS is the flagship bike from EBR, and an exclusive engineering marvel, as the company is producing only 100 inaugural units of these, including a handful of the carbon edition package. The EBR 1190RS is taking the American motorcycle racing world by storm with its performance, styling and handling. 



Arnav Gill

5 years ago

Its A Great Deal...Am A Hero Freek...Waiting For Some Great Biking Experience..Thumbs UP...

SEBI announces lot size of IPO to list on SME exchange

The stock exchanges can review the lot size once in every six months by giving an advance notice of at least one month to the market

Taking forward the framework for setting up of SME (small and medium enterprises) exchange platforms, market regulator Sebi today prescribed 'lot sizes' for shares being offered in IPO on these exchange, as per the price band of the public offers.

At the IPO stage the registrar to issue in consultation with merchant banker/s, issuer and the stock exchange shall ensure to finalize the basis of allotment in minimum lots and in multiples of minimum lot size, as per the SEBI defined price band and lot size. The secondary market trading lot size shall be the same, as shall be the IPO lot size at the application/allotment stage, facilitating secondary market trading.  

" has been decided to standardise the lot size of an Initial Public Offer (IPO) to list on the SME exchange and for the secondary market trading on such platforms," SEBI said in a circular. It said that up to the price band of Rs 14, the lot size will be 10,000. For price band of over Rs 14 and below Rs 18, the lot size would be 8,000 shares.

It also said that, at an IPO stage, if the price band decided falls within two different price bands then the minimum application lot size shall be decided based on the price band in which the higher price falls into.

For example, if the proposed price band is at Rs 24-28 then the lot size shall be 4,000 shares. "The lot size shall not be reduced by the exchange to below the initial lot size if the trading price is below the IPO issue price," it added.
The stock exchanges can review the lot size once in every six months by giving an advance notice of at least one month to the market, it said.

In case of oversubscription, if the option to retain ten percent of the net offer to public for the purpose of making allotment in minimum lots is exercised, then it shall be ensured by the issuer/stock exchanges/ merchant bankers that the post issue paid up capital of the issuer does not go beyond Rs25 crore.


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