Iconix Brand Group, Inc. Continues to Expand its Brands Through New Licenses in the United States and Internationally
January 16 2008 - 8:00AM
PR Newswire (US)
Company also reaffirms Guidance for full year 2007 and 2008 NEW
YORK, Jan. 16 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix" or the "Company"), today announced it has
entered into license agreements for its Royal Velvet (R), Badgley
Mischka (R), Rocawear (R), London Fog (R), Op (R) and Rampage (R)
brands that expand existing product categories and open new
markets. Domestically, Iconix has entered into a license agreement
for its newly acquired home brand, Royal Velvet, with Mohawk Home
for bath and scatter rugs. Mohawk Home, a division of Mohawk
Industries, will debut the new Royal Velvet collections for Spring
2008. Under the terms of the agreement, Mohawk Home will
manufacture and produce bath, scatter and kitchen rugs to be sold
in the United States and Canada in department and specialty stores
as well as online retailers. Continuing to grow its Badgley Mischka
brand's licensing portfolio, the Company announced a long-term
license agreement with Zalemark for Badgley Mischka fine jewelry.
The luxurious jewelry collection will be distributed through
high-end retail stores and will launch for Fall 2008 at the May
2008 Couture tradeshow. The Company has entered into a license
agreement with K&M Jewelry for its Rocawear brand. K&M will
manufacture and distribute Rocawear costume jewelry and will launch
the first collection for Fall 2008 at the MAGIC tradeshow in
February. Additionally, the Company has signed a license agreement
with Synclaire Brands/BCNY to manufacture and distribute London Fog
women's and men's socks and women's hosiery which will be sold at
department stores throughout the United States. Internationally,
the Company has signed a long-term master license agreement with
Pena Group to distribute the Rampage brand exclusively in Thailand.
Pena Group is one of the leading manufacturers and fashion
retailers in Thailand, with more than 100 free standing retail
stores and 150 shop-in-shops throughout Thailand and currently
holds the license for a variety of international fashion brands
including Nautica, Ecko Unlimited and Diesel in Thailand. The
Company has also extended a master license for its Op brand with
MGS for men's, women's and children's apparel and accessories
including bags and backpacks in Israel. Neil Cole, Chairman and
CEO, Iconix, stated, "We are pleased to welcome our new partners to
our expansive network of over two hundred licensees worldwide.
Iconix continues to grow and we are always excited to pair with
industry leaders as we expand our brands into complete lifestyle
collections in the Unites States and abroad." Separately, the
Company is reaffirming its previously stated guidance for the full
years 2007 and 2008. For 2007, the Company is reaffirming revenue
and fully diluted EPS at the higher end of its ranges of $150 -
$160 million and $0.96 - $1.00 respectively. For 2008, the Company
is reaffirming its previously stated guidance of revenue between
$240 - $250 million and fully diluted EPS between $1.35 and $1.40.
As announced earlier, management will be presenting this afternoon
at the 10th Annual ICR XChange Conference. The audio portion of the
presentation will be webcast live. The presentation materials will
be posted at the Company's web site, http://www.iconixbrand.com/.
The webcast can be found in the investor relations section of the
company website. 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) and STARTER (R). The Company licenses
it 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. Media Contact: Tara Levy Public
Relations Manager Iconix Brand Group, Inc. 212-730-0030 DATASOURCE:
Iconix Brand Group, Inc. CONTACT: Tara Levy, Public Relations
Manager of Iconix Brand Group, Inc., +1-212-730-0030 Web site:
http://iconixbrand.com/
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