Formation of Iconix China completed

09 Sep '08

2 min read

Iconix Brand Group Inc announced that the Company and Novel Fashion Brands Limited (Novel), owned and run by Silas Chou and family, had completed the formation of Iconix China Limited (Iconix China), a Hong Kong company formed by the parties to develop and exploit the Iconix brands in Greater China.

Veronica Chou has been named President of Iconix China. Ms. Chou was formerly a private banker at Citibank and has a strong background in the fashion apparel industry in both the U.S. and Chinese markets. The Company also announced that Lei Chen has joined as Executive Vice President Merchandising Asia Pacific and will be responsible for coordinating the integration of the Iconix portfolio of brands with local partners in China.

Neil Cole, Chairman and CEO of Iconix commented, "We are excited about this step we have taken to extend our portfolio of brands in China. With Silas Chou as our partner, we feel confident that we have the resources and the network for success. We believe our strategy is innovative and tailored to maximize the potential of our brands in this market and could be one of our largest long term growth opportunities."

Silas Chou, Chairman and CEO of Novel commented, "I look forward to working with Neil and his team to develop our new business in China. I am confident that together with Iconix's world class portfolio of brands and Novel's strong relationships in the region we will be able to capitalize on the emerging growth in the Chinese markets. This is just the beginning of what should be a long and profitable partnership."

Iconix Brand Group Inc

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