Iconix China Announces Deal for Rampage Brand in Greater China
December 09 2008 - 8:00AM
PR Newswire (US)
NEW YORK, Dec. 9 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix"), today announced that Iconix China Limited
("Iconix China"), its 50-50 joint venture with Novel Fashion Brands
Limited ("Novel"), has partnered with Mecox Lane Limited ("Mecox")
to develop the Rampage brand in Greater China. Rampage expects to
open in excess of 50 free-standing retail stores, beginning in
Spring/Summer 2009 in multiple cities throughout China. In
addition, Mecox plans on offering Rampage products through its
catalog and e-commerce channels. Mecox, established in 1996, has
developed into one of the largest mail order companies in China. It
offers a wide variety of products from apparel, jewelry, and
cosmetics, to health supplements and home products in its catalogs.
Sequoia China, a division of Sequoia Capital, the well-known
Silicon Valley venture capital firm, owns a controlling position in
Mecox. Neil Cole, Chairman and CEO of Iconix, and Silas Chou,
Chairman of Novel, jointly commented, "We are excited that Iconix
China closed its first deal with Mecox and its investment partner
Sequoia China. We believe this is the first of several deals that
will be signed by Iconix China over the next year." Veronica Chou,
President of Iconix China stated, "We will continue to pair the
Iconix portfolio of brands with the best Chinese operators and look
for companies with strong financial partners such as Mecox and
Sequoia China. The deal we announced today is an exciting step for
Iconix China, but really just the beginning of a much greater
opportunity as we capitalize on the rapidly developing middle class
in China." Alfred Gu, CEO of Mecox said, "Mecox is extremely
privileged and excited to have this opportunity to work with Iconix
China. The Chinese consumer market is ready and in need of a brand
like Rampage. Rampage will make use of Mecox's unique strength of
focusing on different platforms. We have high hopes for Rampage in
China." Iconix China, formed in September 2008 and based in Hong
Kong, was established to develop and expand the Iconix portfolio of
brands in Greater China. Novel is owned and led by Silas Chou and
family. About Iconix Brand Group, Inc: Iconix Brand Group, Inc.
(NASDAQ:ICON) owns, licenses and markets a growing portfolio of
consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA
(R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO
(R), OCEAN PACIFIC(R), DANSKIN (R), ROCA WEAR(R), CANNON (R), ROYAL
VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY
(R). The Company licenses its brands to a network of leading
retailers and manufacturers that touch every major segment of
retail distribution from the luxury market to the mass market in
both the U.S. and around the world. Iconix, through its in-house
advertising, promotion and public relations agency, markets its
brands to continually drive greater consumer awareness and equity.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995. The statements that are not historical facts
contained in this press release are forward looking statements that
involve a number of known and unknown risks, uncertainties and
other factors, all of which are difficult or impossible to predict
and many of which are beyond the control of the Company, which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Such factors include, but are not limited to,
uncertainty regarding the results of the Company's acquisition of
additional licenses, continued market acceptance of current
products and the ability to successfully develop and market new
products particularly in light of rapidly changing fashion trends,
the impact of supply and manufacturing constraints or difficulties
relating to the Company's licensees' dependence on foreign
manufacturers and suppliers, uncertainties relating to customer
plans and commitments, the ability of licensees to successfully
market and sell branded products, competition, uncertainties
relating to economic conditions in the markets in which the Company
operates, the ability to hire and retain key personnel, the ability
to obtain capital if required, the risks of litigation and
regulatory proceedings, the risks of uncertainty of trademark
protection, the uncertainty of marketing and licensing acquired
trademarks and other risks detailed in the Company's SEC filings.
The words "believe", "anticipate", "expect", "confident", "will",
"project", "provide" "guidance" and similar expressions identify
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward looking statements, which speak
only as of the date the statement was made. Contact Information:
Maria Dolgetta Public Relations Director 212.819.2084 DATASOURCE:
Iconix Brand Group, Inc. CONTACT: Maria Dolgetta, Public Relations
Director of Iconix Brand Group, Inc., +1-212-819-2084 Web Site:
http://iconixbrand.com/
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