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Footwear maker Kenneth Cole buys Le Tigre LLC

19 Sep '07

2 min read

Kenneth Cole Productions Inc announced that it has acquired in an asset purchase the Le Tigre trademark, iconic tiger logo, portfolio of licenses, and other intellectual property associated with the Le Tigre brand. Le Tigre sportswear is currently sold in premiere specialty stores as well as better department stores including Nordstrom and Lord & Taylor. In conjunction with the acquisition, the Company has entered into a license agreement with Le Tigre, LLC to continue manufacturing and selling sportswear under the Le Tigre brand.

Chairman and Chief Executive Officer Kenneth Cole said, "We are pleased to add such a strong and internationally respected brand to our portfolio. We believe there is significant upside for the Company, specifically through various licensing opportunities as well as through the introduction of men's, women's and children's footwear. Ryan O'Sullivan, the CEO of Le Tigre, LLC, has brought great vision to the brand, and he and his team have done an excellent job of reinvigorating it into what it is today. We look forward to working with them going forward."

Chief Financial Officer David Edelman added, "We believe that this transaction provides us an opportunity to diversify our brand portfolio and further build on our high-margin licensing revenue stream. There has been considerable interest expressed in expanding or adding the Le Tigre brand merchandise across various classifications. We are excited to use the strength of our balancesheet to acquire a new vehicle that we are confident will create growth and value for our shareholders."

Ryan O'Sullivan, CEO of Le Tigre, LLC, commented, "Kenneth has a unique voice and he is both a talented designer and a respected and visionary business leader. This deal presents a tremendous opportunity for us by joining forces with Kenneth Cole Productions to unlock the full potential of the Le Tigre brand. We are looking forward to expanding our business, growing the brand into new categories, and leveraging the solid work that we have already done with this compelling brand."

Kenneth Cole Productions Inc

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