Agencies form new company called Brand Extensions Russia JJP.
JELC has joined forces with Greek licensing firm PJB Brands for a new venture targeting the Russian market.
The new firm - Brand Extensions Russia JJP - will set up local representation first in Moscow, but will also be assessing the port city of St Petersburg and Ekaterinburg, Russia's fourth largest city.
"We're bringing jointly over 60 years of licensing experience to one of the world's most exciting markets," said JELC director, Janet Woodward. "At the moment we're finalising the portfolio which Brand Extensions will be representing, but we also see potential for representing local brands.
"We want to mirror the ecleectic nature of the portfolios that both PJB and JELC are successfully working with in other territories."
Paul Berrington from PJB added: "Both PJB and JELC wanted not just to build our own business but to help build the business of licensing in Russia. This exciting new venture is, as Janet says, an ideal way to do just that. The timing is right, the market is ready and Brand Extensions has a lot to offer."