Home / Knowledge / News / Apparel/Garments / Iconix Brand acquires full ownership of Chinese JV
Iconix Brand acquires full ownership of Chinese JV
17
Mar '15
US based apparel marketer, Iconix Brand Group said it has acquired the remaining 50 per cent of Iconix China from its joint venture partner, Novel Fashion Brands Limited.

Novel Fashion Brands was owned by the Chou family and the deal was made for $56.4 million, of which $40.4 million was paid in cash and $16 million was paid in the Company's common stock.

Iconix China was formed in September 2008 and the operating model, different from the Iconix traditional licensing model has been to attract entrepreneurs and fast-growing local Chinese companies.

It provides them with an Iconix brand in which they invest through the build-out of stand-alone stores and shop-in-shops, and in return Iconix China receives an equity stake in the newly formed venture.

To date, the brands that Iconix China has placed successfully are Candie's and Marc Ecko Cut & Sew with Shanghai La Chapelle Fashion Co. Ltd and London Fog with China Outfitters.

Other deals are Material Girl with Ningbo Peacebird; Ed Hardy with Landmark International; Ecko Unltd with Xi Ha Clothing; Badgley Mischka with Eve NY; Joe Boxer with Northeast Socks; and Royal Velvet with Qingdao Hongfang.

The largest brand in the Iconix China joint venture is Candie's, which partnered with Shanghai La Chapelle in 2010, which has expanded to more than 700 stores and shop-in-shops by 2014.

The Company's business platform in China also includes its three global brands of Peanuts, Umbro and Lee Cooper which have been managed outside of the joint venture.

China has been one of the fastest growing territories for the Peanuts brand and now has over 2,000 points of distribution across China including 20 Charlie Brown Cafe's.

In 2014, the Company partnered with Global Brands Group to build out the Lee Cooper and Umbro brands in China, both of which have strong brand recognition in the region.

"Through Silas and Veronica Chou's expertise, Iconix China has successfully launched nine of our brands with more than 900 standalone stores and shop-in-shops," Neil Cole, CEO of Iconix said.

He added, "Now that our business has gained sufficient scale, we have decided to acquire management and control of the business, consistent with the next phase of our international growth strategy." (AR)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Steve Cole
Xerium Technologies

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search