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Novel Fashion to bring Iconix Brand in China
01 May '08
3 min read
Our goal in developing Iconix China will be to become a powerful platform, not just for the brands we own today, but hopefully many new brands in the future. We believe Iconix China has the potential to deliver compelling returns to our shareholders and one day could become larger than our U.S. business."
Silas Chou, Chairman and CEO of Novel commented, "The opportunity for these brands in China is enormous. China has a rapidly developing middle class of consumers that could number as many as seven hundred million people in the near future.
China is already saturated with luxury brands, but there is a large void for brands to serve this new emerging middle class and that is the most lucrative opportunity in this exciting market. Neil and his team have assembled a world class portfolio of brands that is ideally suited to own this market in China and we will be pairing them with the best operators to realize their full potential."
Silas Chou, Chairman and CEO of Novel commented, "The opportunity for these brands in China is enormous. China has a rapidly developing middle class of consumers that could number as many as seven hundred million people in the near future.
China is already saturated with luxury brands, but there is a large void for brands to serve this new emerging middle class and that is the most lucrative opportunity in this exciting market. Neil and his team have assembled a world class portfolio of brands that is ideally suited to own this market in China and we will be pairing them with the best operators to realize their full potential."
Iconix Brand Group Inc
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