Home / Knowledge / News / Fashion / Iconix to diversify, powerful brands in the offing

Iconix to diversify, powerful brands in the offing

26
Jul '05
Iconix Brand Group Inc, formerly Candie's Inc, announced it has purchased JOE BOXER, a leading lifestyle brand of apparel, apparel accessories and home goods for men, women, teens and children, from Joe Boxer Company LLC and its affiliates.

The JOE BOXER brand is currently licensed exclusively to Kmart in the United States and internationally to manufacturers in Canada and Europe. The purchase price was comprised of $40 million in cash, 4,350,000 shares of restricted stock and an assumption of approximately $11 million in debt. Through its existing agreements with Kmart and international licensees, the JOE BOXER brand generates approximately $20 million in annual royalty income.

According to Neil Cole, Chairman and CEO of Iconix, ""JOE BOXER is a very powerful brand with over ninety percent awareness and an irreverent and playful image that entertains consumers and adds excitement to the retail floor.

This acquisition supports the growth strategy of Iconix to diversify and expand their portfolio of brands by giving us a strong presence in the young men's market and entry into staple categories like underwear, sleepwear, socks and hosiery." Cole added, "Iconix is recognized for innovative marketing. They look forward to creating exciting advertising and events for JOE BOXER that stay true to its heritage yet expands the brand even further with its target market."

Bill Sweedler, formerly CEO of Windsong Allegiance Group LLC will join Iconixas President of the newly formed JOE BOXER division. Mr. Sweedler will also have a seat on the Iconix Brand Group Board of Directors. Bill Sweedler commented, "I am thrilled to be joining such an exciting company.


Must ReadView All

Pic: Shutterstock

Textiles | On 12th Apr 2021

Singapore becomes first RCEP participating country to ratify agreement

Singapore has ratified the Regional Comprehensive Economic...

Pic: Shutterstock

Textiles | On 12th Apr 2021

World economy stumbling towards two-track recovery: Report

The world economy is facing sharply divergent growth prospects across ...

Pic: Shutterstock

Textiles | On 12th Apr 2021

2021 to be critical for European textiles and clothing sector: Euratex

2021 will be a critical year for the European textile and clothing...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Cooperate and collaborate for greater good

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Anurag Mohota,

Anurag Mohota

Located in the heart of cotton growing belt of India, Gimatex is a...

Neeraj Sharma,

Neeraj Sharma

Headquartered in Surat, Gujarat, Orange O supplies digital textile...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


April 2021

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


Advanced Search