02 Nov. 2009
ICONIX ACQUIRES ECKO BRANDSIconix, the New York-based brand management company, has signed a definitive agreement to acquire a controlling interest in the Ecko portfolio of brands (Ecko Unlimited, Marc Ecko, the Rhino logo and Zoo York). The effective purchase price for this acquisition will be $109 million. Iconix Brand Group will form a joint venture company with an affiliate of the sellers to acquire the trademarks and will have a 51% interest in the joint venture as well as control the licensing company. Marc Ecko will continue in his capacity as the Chief Creative Officer of the company as he has since its inception.
Neil Cole, Chairman and CEO of Iconix Brand Group, Inc., said: "This purchase is consistent with our strategy to acquire leading consumer brands that offer long-term growth potential when integrated into our business model. The Ecko portfolio is a collection of powerful lifestyle brands, some of which we believe could lend themselves easily to our direct retail model."
Marc Ecko said: "I am excited for the opportunity to partner with Iconix. Ever since I have started, people have tried to marginalize streetwear as a niche business. After 15 years of consistent global retail growth and product expansion, I am excited at taking this next step. This new venture provides me the bandwidth for my brand and allows me the resources and freedom to extend my professional and creative ambitions beyond my current platform of fashion, video gaming and publishing."
Iconix Brand Group Inc. owns, licenses and markets a growing portfolio of consumer brands including Candie’s, Badgley Mischka, Joe Boxer or Rocawear. In addition, the group owns an interest in the Artful Dodger and Ed Hardy brands.
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