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Iconix Brand Group

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Not to be confused with Iconix Entertainment.
For other uses, see Iconix.
Iconix Brand Group, Inc.
Company typePublic
Nasdaq: ICON
IndustryTextile
Founded1978; 46 years ago (1978)[1]
FounderNeil Cole[1]
HeadquartersNew York City, New York, U.S.
Area served
Worldwide
Key people
John N. Haugh, President & CEO
ProductsApparel
Revenue$400 million USD (Increase $80M FY 2011)
Number of employees
120
SubsidiariesUmbro, Lee Cooper, Starter, The Sharper Image
Websitewww.iconixbrand.com

Iconix Brand Group is an American brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sears, Macy's, Target and JC Penney.[citation needed]

History and operations

The company began as Candie's, Inc., whose brand it purchased in 1993. The Bongo brand was purchased in 1998. The Badgley Mischka brand was purchased in 2004. The Joe Boxer and Rampage brands were acquired on July 22, 2005, and September 15, 2005, respectively. In 2006, the company acquired the Mudd, London Fog, Mossimo, Ocean Pacific brands on April 11, August 29, November 1, and November 6, respectively. The company continued with acquisitions in 2007 with the purchase of Cannon, Danskin, Artful Dodger, and Rocawear brands. On November 15, 2007, Iconix bought the Starter brand from Nike. On October 27, 2009, Iconix paid $109 million for a 51% stake in urban fashion brand Eckō Unltd. It acquired full ownership in May 2013.[2]

On June 3, 2010, Iconix and Charles M. Schulz Creative Associates jointly acquired all assets related to the Peanuts comic strip from its longtime owner, United Media, using the property to form a new company, Peanuts Worldwide, which is 80% owned by Iconix and 20% owned by Schulz Associates. Peanuts Worldwide also acquired United Media's licensing arm, which represents licensing for its other properties including Dilbert and Fancy Nancy.[3][4]

In 2011, Iconix acquired electronics brand The Sharper Image.[5] In October 2012, Nike Inc. announced that it had agreed with Iconix Brand Group to sell English brand Umbro for USD $225 million.[6] The acquisition was completed in December 2012.[7]

In 2013, Iconix acquired Lee Cooper from Sun Capital Partners.[8] In February 2013, Iconix acquired control of the Buffalo David Bitton brand in an effort to expand into higher-end brands. Iconix paid Buffalo International ULC $76.5 million in cash for a 51% stake in the brand.[9]

In February 2015, Iconix bought the Strawberry Shortcake brand from American Greetings.[10] Also that month, Iconix and Anthony L&S Athletics LLC acquired North American rights and related intangible assets of Pony from Symphony Holdings LLC with the option to purchase additional markets. A new subsidiary, owned 75% by Iconix and 25% by Anthony L&S, would hold the Pony rights.[11]

In 2015, several top executives, including founder Neil Cole, resigned following a statement that Iconix was under investigation by the Securities and Exchange Commission.[12] The investigation was triggered by Iconix's 2014 financial statements, after which it received a letter from the SEC. Stock prices fell 24% after Iconix confirmed the investigation. [13]

In 2017, Iconix sold Badgley Mischka and The Sharper Image.[14][15]

On May 10, 2017, DHX Media announced that it had acquired the Iconix entertainment division for $345 million. The sale was closed on June 30, 2017, gives DHX rights to the Strawberry Shortcake franchise, and more prominently, the 80% majority stake of Peanuts Worldwide.[16]

Brands

Notes:
  • 1 50% owner.
  • 2 Jay Z is a part owner

See also

References

  1. ^ a b Iconix Brand Group Inc. at Bloomberg Businessweek
  2. ^ "iconix brand group, inc. - Investor Relations - Press Release". Retrieved 21 November 2016.
  3. ^ Inc., Iconix Brand Group,. "Iconix Brand Group Closes Acquisition of Peanuts". Retrieved 21 November 2016. {{cite web}}: |last= has generic name (help)CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link)
  4. ^ "Iconix Forms Peanuts Worldwide". License!. UBM. June 7, 2010. Retrieved November 21, 2016.
  5. ^ "Iconix acquires The Sharper Image brand - Home Textiles Today". Retrieved 21 November 2016.
  6. ^ "Iconix Brand Buys Nike’s Umbro Soccer Unit for $225 Million" at Bloomberg.com, 24 October 2012
  7. ^ "Iconix Brand Group Completes Acquisition of Umbro from Nike for $225 Million", Fashion Invest website, 4 December 2012
  8. ^ "Sun European Partners sells Lee Cooper for $72m". AltAssets Private Equity News. Retrieved 21 November 2016.
  9. ^ Reuters UK (4 February 2013). "Deals of the Day 04/02/13". Reuters UK. {{cite news}}: |author= has generic name (help)
  10. ^ Atkinson, Claire (3 February 2015). "Strawberry Shortcake is new 'it' girl for Iconix". Retrieved 21 November 2016.
  11. ^ Abel, Katie (3 February 2015). "Iconix Acquires North American Rights for Pony". Retrieved 21 November 2016.
  12. ^ Young, Vicky M.; Borcharot, Debra (2016-01-06). "Iconix What Went Wrong?". WWD: Women's Wear Daily. 211 (1): 60–64. ISSN 0149-5380. Retrieved 2017-08-10.
  13. ^ McCoy, Kevin. "Iconix confirms SEC investigation, shares plunge". USA TODAY. Retrieved 2018-09-27.
  14. ^ Badgley Mischka And Titan Industries Buy Trademark Rights From Iconix
  15. ^ Iconix Brand Sells Off the Sharper Image
  16. ^ "DHX Media Acquires 'Peanuts' in $345 Million Purchase of Iconix". Variety. Retrieved 10 May 2017.
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