Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade ICON now with 

Iconix Brand Group, Inc. (ICON: Quote) 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.

Register
To receive FREE breaking news email alerts for Iconix Brand Group and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.