Home / Knowledge / News / Apparel/Garments / Iconic completes acquisition of IP Holdings Unltd
Iconic completes acquisition of IP Holdings Unltd
25
May '13
Iconix Brand Group, Inc. announced that it has purchased the 49% minority interest in IP Holdings Unltd LLC, owner of the Ecko Unltd., Marc Ecko Cut & Sew and related trademarks. Previously, the Company held a 51% controlling interest in IPHU. Marc Ecko Enterprises will continue in its role as the core apparel licensee for the brands.

"We believe there is a strong growth opportunity in the youth culture market around the world and are thrilled to increase our equity in the Ecko Unltd. and Cut & Sew brands. We look forward to continuing to work with our licensees as well as the MEE team to further expand the businesses," commented, Neil Cole, CEO, Iconix Brand Group.

The Company paid $45 million in cash for the remaining equity in IPHU.  In addition, as part of the transaction, the sellers will no longer have any obligations under a note payable by IPHU in the approximate amount of $52 million.

"We look forward to continuing our strong relationship with Iconix and being the leader in youth culture branding, merchandising and design," said Seth Gerzsberg, CEO, MEE.

Founded in 1993, Ecko Unltd. is a lifestyle brand that quickly became the leading face of global youth culture. Marc Ecko organically built a loyal following among the new generation's cultural icons like the Beastie Boys, Spike Lee and Chuck D and cemented a strong consumer base.  Ecko Ultd is currently sold in over 5,000 stores in 60 countries and has approximately 100 stand-alone retail stores.

In 2004, the Marc Ecko Cut & Sew collection was launched blending classic tailoring with bold graphics and tasteful embellishments. It was designed for men to start dressing a little more seriously while maintaining their youthful edge. Cut & Sew is available at better department stores including Dillard's, Macy's and key specialty stores and its product assortment includes apparel, eyewear and footwear.

Iconix Brand Group

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Apparel/Garments | On 25th May 2017

AAFA reinforces opposition to Border Adjustment Tax

The American Apparel & Footwear Association (AAFA) has reinforced its ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search