Japanese firm Itochu Corp. reported it acquired the master license rights for L.L.Bean in Japan and the wholesale rights for imported products.
Under the agreement, Itochu has hired Minoya Co. for product development and wholesale sales of licensed apparel products and Sunriver Co. for wholesale sales of imported products.
L.L.Bean operates 90 retail stores globally, including 28 directly managed stores in Japan.
L.L.Bean’s International Japan branch will continue to operate the retailer’s catalog and e-commerce business and directly-managed stores.
“Targeting outdoor enthusiasts, we will develop sales channels such as select shops, outdoor specialty stores and sports retailers. In the future, in addition to apparel, we will also develop new licensing categories,” said Itochu, in a press release. “We aim to create a new business with a retail sales revenue base of 5 billion yen in five years.”
Itochu said in addition to apparel, it would develop new licensing categories.
In September, Itochu partnered with Authentic Brands Group to expand Eddie Bauer’s reach in Japan and acquired the sales and licensing rights to Forever 21 in Japan.
