Last checked at 13 Jan 2009 07:00
International Brand Licensing Plc("IBL", the "Group" or the "Company")
New joint venture agreement signed in South East Asia for its Admiral Sportswear Brand
International Brand Licensing Plc, the branded sports lifestyle Company is delighted to announce a new joint venture agreement with Rich Crest Group Limited ("RCG"), a BVI registered company with its principal offices in Malaysia. This new agreement replaces a previous agreement inherited by IBL upon its incorporation.
Admiral Asia owns the Admiral sportswear trademarks in the territories of Malaysia, Singapore, Thailand, Brunei, Indonesia, Philippines, India, Vietnam, Cambodia, Laos, Myanmar, Uzbekistan, Azerbaijan, Kazakhstan and Turkmenistan. Under the new agreement the recruitment of new Admiral licensees will be aggressively pursued, prioritising India, Indonesia, Vietnam, Thailand and the Philippines.
Admiral Asia has already put in place a licensee for the territories of Malaysia, Singapore and Brunei and the royalty revenue generated from these will fund the operating expenses of the company.
Tony Hutchinson, IBL's Chief Executive commented: "We are delighted to have entered into this new agreement which should quickly become earnings enhancing. We very much look forward to working with RCG to maximise this vast untapped potential."
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For further information please contact:
International Brand Licensing PlcPaul Foulger/Adam Reynolds +44 (0) 20 7245 1100
Zeus Capital LtdRoss Andrews + 44 (0) 161 831 1512