Home / Knowledge / News / Apparel/Garments / Iconix buys global rights for Ed Hardy from Nervous Tattoo
Iconix buys global rights for Ed Hardy from Nervous Tattoo
28
Apr '11
Iconix Brand Group Inc announced it has acquired the worldwide master license for the Ed Hardy brand from Nervous Tattoo. Through this transaction, the Company will gain control of the licensing and marketing functions, and increase its total ownership stake in the Ed Hardy brand to 85%. Previously, the Company had a small investment in the brand through its joint venture with Don Ed Hardy.

On a pro-forma consolidated basis, the Company estimates that the Ed Hardy brand will generate total annual royalty revenue of approximately $15-16 million.

Neil Cole, Chairman and CEO, Iconix stated, "We are excited to be able to utilize our marketing and licensing expertise to reenergize the Ed Hardy brand. The brand has an extremely high level of consumer awareness in the United States as well as very strong international business, and we believe our Company will be able to add real value."

Don Ed Hardy, commented, "I am thrilled that Iconix has assumed control of the brand. This is exactly what I had envisioned two years ago, when I first partnered with Neil and his team. Iconix has a proven track record and I trust my namesake brand in their hands and look forward to a bright future."

Iconix paid $55 million plus a $7 million earn-out for this acquisition. As part of the transaction, Nervous Tattoo, who will continue as a licensee for Ed Hardy t-shirts, hats and hoodies, will pre-pay $7 million in royalties under its license.

With its increased stake, the Company will now fully consolidate the Hardy Way financials and Don Ed Hardy's 15% will be reflected in minority interest. Going forward, Ed Hardy will no longer be included in the Company's equity earnings on joint ventures line in its income statement. Further, any non-cash gains relating to this transaction are not included in the Ed Hardy estimates.

Don Ed Hardy and his artwork date back to 1967 when Hardy transformed the tattoo business into an artistic medium. Hardy is known as "the godfather of modern tattoo" for his sophistication, depth and sense of experimentation. Today Ed Hardy is a global consumer products brand sold in over 40 countries and 30 different categories including swimwear, fragrances, energy drinks, home goods and bags.

Iconix Brand Group Inc

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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:
April 2017

April 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