Denim maker Antik signs license deal with Mercier SARL

02 May '07

3 min read

The license agreement provides for an upfront minimum guarantee advance of $250,000 and an aggregate of minimum royalty payments of $2.5 million for the years 2009 though 2012 assuming the proposed license agreement is renewed at the end of 2008. Additionally, Blue Holdings announced the amendment of Northstar's agreement to relinquish its European distribution rights for knits for the Antik brand in order to allow Antik Denim to enter into the Mercier agreement for distribution in Europe.

“This license agreement has been something that I have been working very hard to achieve for Blue Holdings”, said Paul Guez, Chairman, Chief Executive Officer and President of Blue Holdings, Inc. “I believe this will be a tremendous step forward, and will allow Antik to reach consumers all over Europe. I am confident that the combination of Mercier's leadership and the many talented and focused employees within both our companies will allow us to meet our financial goals and expand Antik's global footprint. I look forward to a long and successful relationship.”

Julian Sidonio, Chief Executive Officer of Mercier SARL, added, "Over the years, we have recognized our speciality as 'Brand Builders' - and believe Antik Denim is a very exciting brand. The product is fabulous and the design team in the LA headquarters are filled with enthusiasm and creativity. This energy will support the brand and allow it to become a leading denim brand in the European market."

Blue Holdings Inc.

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