The company may have loss licence rights to Ralph Lauren but Oroton Group has picked up American brand Brooks Brothers.

As part of a joint venture agreement where Oroton Group will hold a majority of 51 per cent, the company will help the Brooks Brothers develop the brand in Australia and New Zealand. The initial agreement term is 10 years with a five year renewal option.

Oroton Group CEO Mark Newman said it’s a great opportunity for the company to be partnered up with a distinguished brand.

“We are looking forward to building a strong and successful business in Australia,” he said.

“The brand is recognised around the world and already has a loyal customer based here, through its online presence. The partnership is an endorsement of our skills and expertise in managing premium international brands in our home country.”

The joint venture deal comes after Oroton Group lost its flagship Ralph Lauren licence in June after the fashion brand decided to bring global distribution in-house.

The current Brooks Brother online business to Australia is currently trading over $1 million in sales per year.

According to Brooks Brothers chairman Claudio Del Vecchio Australia was a natural next step in the company’s global expansion plans. As of 2013, Brooks Brothers has over 500 stores worldwide in over 25 countries, including Korea, Japan, UK, Canada and Italy.

Oroton Group plans to open four to eight stores and/or department store concessions at the beginning of 2014 with further stores and local online store to follow soon after.

The joint venture is targeted to generate approximately $3 million in sales in FY14 for Oroton rising to approximately $50 million sales in fifth year of business.