Home / Knowledge / News / Fashion / Iconix Brand sells rights to Badgley Mischka label
Iconix Brand sells rights to Badgley Mischka label
04
Mar '16
Courtesy: Iconix Brand Group
Courtesy: Iconix Brand Group
Fashion goods marketer Iconix Brand Group has sold the rights to the Badgley Mischka IP to Titan Industries, which has bought it in partnership with the brand's founders and the apparel licensee MJCLK LLC for $16 million in cash.

Iconix acquired the Badgley Mischka IP in 2004, and the company has decided to sell the brand since the time and resources required to properly support it are not in line with the rest of the Iconix portfolio.

“Iconix has a portfolio of over 30 brands, and the company is focused on those brands that generate significant volume through both direct-to-retail relationships and global networks,” it said in a press release.

While Iconix expects to record a gain related to this sale in the first quarter of 2016, this transaction is not reflected in the company's current guidance.

The company will provide updated guidance for 2016, when it reports its fourth quarter and full year 2015 financial results.

"We have had a productive 11 years working with the Iconix team to build Badgley Mischka from its red carpet origins to a full lifestyle luxury brand," said Mark Badgley, co-founder of the label.

"We are excited to manage our core product categories in-house and focus on the luxury aspect in both product and image," he added.

"We intend to capitalise on the strength of our women's couture and RTW collections, and especially the success of the shoe collections, to further this partnership with Titan,” another co-founder James Mischka too said.

Peter Cuneo, chairman said, "As part of the comprehensive review that we have been conducting, we have been evaluating each brand in the portfolio and have been identifying where our time and resources are best spent.”

“Badgley Mischka is a strong brand, and we believe it is in good hands with Mark, James, and Titan,” Cuneo informed.

“However, we felt that it was in the best interest of our Company to divest this non-core asset and allocate our resources to our larger volume, higher margin brands,” he stated.

"I am thrilled to be partnering with the founders, Mark and James, and allowing them to regain ownership in their namesake brand," Joe Ouaknine, co-founder of Titan also said. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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