Thomas Scott (India) Limited

Exclusive Licensing and Global Designated Supplier Agreement for Forever 21 Brand

Main Body

Nature and Terms of Agreement:

  • TSIL is appointed as the exclusive licensee for the Forever 21 brand in India, Nepal, and Bangladesh.
  • The company will lead the brand's product design, development, manufacturing, distribution, retail, and e-commerce operations in the licensed territory.
  • Additionally, TSIL has been appointed as a Global Designated Supplier, enabling it to manufacture Forever 21 products for the brand's international partner network outside the licensed territory.

Financial Details:

  • The consideration is in the form of royalty payable on net sales of licensed products within the licensed territory.
  • For the Global Designated Supplier stream, consideration is in the nature of supply/wholesale margins on products manufactured and supplied by the company to other authorized licensees and distributors.

Key Terms:

  • Parties: Thomas Scott India Limited (Licensee) and F21 IPCO LLC (Licensor).
  • Nature: Grant of an exclusive license to use the 'Forever 21' trademark and brand for apparel and related accessory categories.
  • Territory: India, Nepal, and Bangladesh.
  • Distribution: Across all channels.
  • Term: 5 years with an option to extend for another 5 years.

Strategic Rationale:

The partnership reflects TSIL's growing capabilities in building and scaling fashion brands. Its integrated platform brings together design, manufacturing, technology, fulfilment, and omnichannel distribution. TSIL manages a portfolio of 50,000+ SKUs across 15+ brands, supported by four manufacturing facilities and four fulfilment centres. The company recorded consolidated revenue of ₹254.9 crore in FY26, registering 58.3% year-on-year growth.

Counterparty Details:

F21 IPCO LLC is a subsidiary of Authentic Brands Group, a global brand and entertainment platform that owns and invests in iconic intellectual property. Authentic's brands drive more than $38 billion in annual system-wide sales worldwide through a network of more than 1,700 licensees and strategic partners across 150 countries.

Corporate Governance:

  • The promoter/promoter group/group companies have no interest in F21 IPCO LLC.
  • The agreement does not fall within related party transactions.

Other Key Announcements

No other material announcements were disclosed in this filing.