Home / Knowledge / News / Fashion / Candie's Inc renamed Iconix Brand Group Inc

Candie's Inc renamed Iconix Brand Group Inc

27
Jun '05
Men's, women's & girl's footwear designer, marketer, importer & distributor Candie's Inc announced that effective July 1st it will change its corporate name to Iconix Brand Group Inc ("Iconix") and will trade on the NASDAQ stock exchange under the ticker symbol ICON. The name change represents the final step of the transformation of the Company's business from an operating footwear and apparel company to a brand management business. Iconix today owns three brands, Candie's, Bongo and Badgley Mischka and has licensed them in a broad variety of categories to retailers, wholesalers and distributors worldwide.

Neil Cole, Chairman and CEO of Iconix, stated, "The word Iconix symbolizes our goal of owning a strong and diversified portfolio of many leading brands. Our new business model is aligned with the expertise of our management team and optimizes shareholder value by minimizing the risks associated with operating a fashion company in today's retail environment." Cole added, "The proliferation of low cost overseas manufacturing and retail consolidation is changing the traditional supply chain model.

Our goal is to create strategic alliances with retailers and suppliers worldwide and add value to this network through our expertise in marketing and merchandising. We are excited to have fully transitioned our business to the brand management model with an infrastructure in place to easily integrate new brands into our unique platform."

The Company's namechange will become official on July 1st, 2005, with the Company switching NASDAQ ticker symbols from CAND to ICON on the same day. A new corporate website with information on the Company and its brands will launch at www.iconixbrand.com.


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