logo
Share SHARE
FONT-SIZE Plus   Neg

Iconix Brand Buys Remaining 49% Stake In Ecko Unltd., And Marc Ecko Cut & Sew

Iconix Brand Group, Inc. (ICON) announced that it has acquired the 49% minority interest in IP Holdings Unltd LLC or "IPHU", owner of the Ecko Unltd., Marc Ecko Cut & Sew and related trademarks. Previously, the company held a 51% controlling interest in IPHU. Marc Ecko Enterprises will continue in its role as the core apparel licensee for the brands.

The company noted that it paid $45 million in cash for the remaining equity in IPHU. In addition, as part of the transaction, the sellers will no longer have any obligations under a note payable by IPHU in the approximate amount of $52 million.

Founded in 1993, Ecko Unltd. is a lifestyle brand that quickly became the leading face of global youth culture. Marc Ecko organically built a loyal following among the new generation's cultural icons like the Beastie Boys, Spike Lee and Chuck D and cemented a strong consumer base. Ecko Ultd is currently sold in over 5,000 stores in 60 countries and has about 100 stand-alone retail stores.

In 2004, the Marc Ecko Cut & Sew collection was launched blending classic tailoring with bold graphics and tasteful embellishments. It was designed for men to start dressing a little more seriously while maintaining their youthful edge. Cut & Sew is available at better department stores including Dillard's, Macy's and key specialty stores and its product assortment includes apparel, eyewear and footwear.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT