Home / Knowledge / News / Fashion / Novel Fashion to bring Iconix Brand in China

Novel Fashion to bring Iconix Brand in China

01
May '08
Iconix Brand Group Inc announced that it has entered into a definitive agreement to form an equal joint venture with Novel Fashion Holdings Limited (Novel), a Hong Kong based company, owned and run by Silas Chou and family.

The joint venture company, "Iconix China", will be based in Hong Kong and overseen by a board of directors comprised of equal delegates from Iconix and Novel. In connection with the transaction, Novel will commit to contribute $20 million and Iconix will commit to contribute $5 million and substantially all rights to its brands for the territories of China, Hong Kong, Taiwan and Macao.

The strategy behind Iconix China will be to identify local operating companies with the potential to go public and provide them with one of the Iconix brands, and marketing and brand management support, in exchange for an equity stake in their companies.

The joint venture company will also potentially acquire interests in other Chinese or Asian brands. Iconix China will also receive royalties from the existing Iconix license agreements in the territory including OP, which is licensed to Wal-Mart, London Fog, which is licensed to New Foundations and Cannon and Royal Velvet, which are licensed to Li & Fung.

Neil Cole, Chairman and CEO of Iconix commented "Silas Chou is a highly respected and successful entrepreneur in both the United States and China and will be a terrific partner for Iconix in this venture. Silas has a vision and businessmodel for China that is as innovative for that market as the Iconix model has been in the United States.


Must ReadView All

Pic: Shutterstock

Retail | On 1st Dec 2020

British retailer Arcadia enters into administration

UK clothing retail group Arcadia recently entered into administration ...

Pic: Fashion For Good

Textiles | On 1st Dec 2020

Fashion For Good launches Viscose Traceability Project

Fashion for Good, a global initiative to make all fashion good, has...

Pic: European Commission

Textiles | On 1st Dec 2020

Croatian, Belgian, Romanian firms win EUSIC challenge

Snake, a Croatian platform that enables users to wear outfits in...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Textile Industry, Head honchos

Textile Industry
Head honchos

Industry could be looking at 10%-15% job losses

Aditya Goyal,

Aditya Goyal

Headquartered in Surat, Anubha Industries is a specialist for sustainable...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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


December 2020

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


Advanced Search