RAMPAGE Brand adds to Iconic Brand Group portfolio

20 Sep '05

3 min read

New York based Iconix Brand Group Inc, formerly Candie's Inc, announced that it has purchased RAMPAGE, a leading brand of contemporary women's apparel and accessories, from Rampage Clothing Company. The Rampage brand is sold worldwide through better department stores in the United States and is distributed internationally in South and Central America, the Middle East, Thailand and the Philippines.

The purchase price is $45.9 million, comprised of $25.8 million in cash and $20.1 million of restricted Company stock. The purchase of the Rampage label adds a fifth brand to the Iconix portfolio and further diversifies the Company's holdings by adding a brand with significant penetration in the better department store channel. The company also owns the brands Candie's, Bongo, Badgley Mischka and Joe Boxer.

The Rampage brand is currently licensed to twelve different companies, including an agreement with Charlotte Russe, which operates approximately 70 mall-based Rampage specialty stores. Upon closing, the Company simultaneously entered into a license for the core sportswear collection with Larry Hansel Clothing, LLC run by Rampage founder, Larry Hansel. Rampage is projected to generate approximately $9 - $11 million in 2006 licensing revenue.

Neil Cole, Chairman and CEO of Iconix stated, "They have extensively researched a number of brands and Rampage is one that rises to the top. Consumers regard it as a hip, sexy brand that is a trendsetter in design. The sportswear license with the founder, Larry Hansel and his talented team will provide design continuity while Iconix enhances the brand with exciting new marketing. Rampage has a brand profile they understand well, and they have exciting plans for expansion including in several new licensed categories. The acquisition of Rampage diversifies their holdings by providing penetration in the better department store channel to complement their current holdings in the luxury, mid-tier and mass channels."

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