Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade ICON now with 
5/24/2013 10:18 AM ET

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

Editors Pick
Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin. Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to While selling pressure has remained relatively subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day come on the heels of the upward trend seen over the past several sessions. The major averages have moved roughly sideways in recent trading, lingering in the red.
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.