Co-branding has come into the business scenario over the past few decades and has given marketers a tool to enhance their company’s brand image by leveraging that of the other brand. This research evaluates the impact of co-branding on both product extension as well as the brand image of the co-branded products. The strategy aims at benefitting both the companies and the composite product created, stands out for itself. Co-branding has also become an effective tool in the introductory phase of a new product. Literature as well as product examples are assessed and the inference is based on this source of secondary data. Wide discussions on the advantages of co-branding are discussed in this article.