ITOCHU Announces Acquisition of Exclusive Import/Distribution and Master License Rights of NYDJ Brand
February 26, 2015
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has signed an agreement with US-based NYDJ Apparel, LLC (hereinafter “NYDJ”) to secure exclusive import/distribution and master license rights of the NYDJ brand (ladies’ clothing) from Los Angeles, California on the Japanese market. ITOCHU will be commencing operations via CROSS PLUS INC. (headquartered in Nishi-ku, Nagoya; Hironori Yamamoto, President & CEO), from the 2015 spring-summer season onwards.
NYDJ launched in 2003 in Los Angeles-the birthplace of denim. Based on the company’s “look-a-full-size-smaller” concept, NYDJ combined stretch premium denim with unique Lift Tuck Technology -a sewing technology that has patent in the US- which enables jeans to offer gentle control in the front while lifting and shaping in the back. In addition to expanding operations around leading department stores such as Bloomingdale’s and Nordstrom, it has also branched out into pants and tops, and has become a much beloved brand amongst women in the U.S. and Europe, including celebrities.Despite starting out as a women’s denim brand, NYDJ has been developing the collection and has kept expanding as a global lifestyle brand.
Bringing in such high value-added brands into the Japanese market resonated with the current direction of ITOCHU, which has led to the current agreement.Making the most out of its extensive experience and expertise in the brand business, combined with imports and licensing, ITOCHU will be enhancing the brand awareness of the NYJD across the Japanese market. NYDJ Products will go on sale via major department and specialty stores from 2015spring/summer season, fully start launching from2015 fall/winter season. ITOCHU is aiming to achieve retail sales of ¥2 billion in three years.
|Name||NYDJ Apparel, LLC|
|Representative||Robert Skinner, PRESIDENT & CEO|
|Head Office||5401 South Soto Street, Vernon, CA 90058, USA|
|Name||CROSS PLUS INC.|
|Representative||Hironori Yamamoto, President & CEO|
|Head Office||3-9-13 Hananoki, Nishi-ku, Nagoya, Japan|