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Iconix renews three direct-to-retail license agreements
08 Dec '09
2 min read
Iconix Brand Group, Inc. announced that it has renewed three separate direct-to-retail license agreements for its Candie's, Fieldcrest and Waverly brands.
The junior lifestyle brand, Candie's has renewed its exclusive multi-year license agreement with Kohl's Corporation. Under similar terms of the original agreement, Kohl's will continue to distribute Candie's apparel, accessories and lifestyle products in the United States in Kohl's stores and at kohls.com through 2016. Kohl's has held the exclusive Candie's license since 2005.
Iconix has also renewed direct-to-retail license agreements for two of its home brands, Fieldcrest and Waverly. Fieldcrest will continue to be sold exclusively at Target Corporation through 2015. Fieldcrest bed and bath products have been licensed exclusively to Target in the U.S. since 2005. Lastly, Lowe's Companies, Inc. will continue to hold the exclusive license for Waverly Home Classics paint. Lowe's has been the exclusive distributor of Waverly Home Classics paint since 2003. The terms of each of these renewals are substantially similar to the terms in each of their original agreements.
Neil Cole, Chairman and CEO of Iconix, stated, "We are pleased to announce three exciting retail renewals with Kohl's, Target and Lowe's for our Candie's, Fieldcrest and Waverly brands. These renewals demonstrate the strength of the Iconix brands and their continued importance to our retail partners. Currently, Iconix has 17( )direct-to-retail deals with a variety of retailers in the United States and abroad. With these renewals in place, as of January 1, 2010 we will have approximately $600 million in aggregate contractually guaranteed minimum royalties excluding any additional renewals."
The junior lifestyle brand, Candie's has renewed its exclusive multi-year license agreement with Kohl's Corporation. Under similar terms of the original agreement, Kohl's will continue to distribute Candie's apparel, accessories and lifestyle products in the United States in Kohl's stores and at kohls.com through 2016. Kohl's has held the exclusive Candie's license since 2005.
Iconix has also renewed direct-to-retail license agreements for two of its home brands, Fieldcrest and Waverly. Fieldcrest will continue to be sold exclusively at Target Corporation through 2015. Fieldcrest bed and bath products have been licensed exclusively to Target in the U.S. since 2005. Lastly, Lowe's Companies, Inc. will continue to hold the exclusive license for Waverly Home Classics paint. Lowe's has been the exclusive distributor of Waverly Home Classics paint since 2003. The terms of each of these renewals are substantially similar to the terms in each of their original agreements.
Neil Cole, Chairman and CEO of Iconix, stated, "We are pleased to announce three exciting retail renewals with Kohl's, Target and Lowe's for our Candie's, Fieldcrest and Waverly brands. These renewals demonstrate the strength of the Iconix brands and their continued importance to our retail partners. Currently, Iconix has 17( )direct-to-retail deals with a variety of retailers in the United States and abroad. With these renewals in place, as of January 1, 2010 we will have approximately $600 million in aggregate contractually guaranteed minimum royalties excluding any additional renewals."
Iconix Brand Group Inc
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