Iconix Brand Group and Falic Group Join Forces to Create Iconix Latin America
January 07 2009 - 8:00AM
PR Newswire (US)
NEW YORK, Jan. 7 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix") today announced that it has entered into a
joint venture with New Brands Americas LLC ("New Brands") to
further develop and exploit the Iconix brands in Latin America. New
Brands is a member of The Falic Group, a Florida based consortium
owned and operated by Simon, Jerome and Leon Falic. The joint
venture company, Iconix Latin America, will focus on maximizing
royalty revenue via existing and new licensing agreements for the
Iconix portfolio of brands in Mexico, Central America, South
America, and the Caribbean, which today number 16. In exchange for
$6 million plus other commitments, New Brands received a 50%
interest in the joint venture, which will also have an option to
purchase rights to future brands acquired by Iconix. Neil Cole,
Chairman and CEO of Iconix, commented, "We are pleased to announce
the formation of Iconix Latin America with The Falic Group. The
Falic brothers have extensive expertise and contacts in the Latin
American market. Having locally based partners with knowledge of
the different cultures and markets that comprise this region will
significantly accelerate the growth of our brands throughout this
territory and help us maximize revenue from our existing licensing
base in Latin America. Different from our joint venture in China,
Iconix Latin America will be run as a traditional licensing
business with near-term revenue opportunity." Leon Falic, President
of New Brands, commented, "This exciting venture will enable us to
capitalize on the ever growing Latin American market for proven
U.S. brands. Because of recent demographic changes in Latin
America, we feel that this a unique opportunity to bring the Iconix
brands to a thriving new group of consumers there. We are looking
forward to working with Neil and his team at Iconix to maximize
each brand." Iconix Latin America is the second international joint
venture for Iconix. Iconix China, a Hong Kong company formed by
Iconix and Novel Fashion Brands Limited, led by Silas Chou and
family, was completed in September 2008 to develop the Iconix
brands in Greater China. 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. About New Brands Americas LLC: New Brands Americas LLC
is a member of The Falic Group of companies, which are involved in
the retail sale, manufacture and international distribution of
luxury goods. The Falic Group owns and operates Duty Free Americas,
Inc., the largest duty free retail store operator in the Americas,
with over 150 duty free shops located in major international
airports and border crossings. The Falic Group also owns the House
of Christian Lacroix and several fragrance and cosmetics brands,
including Urban Decay, Hard Candy and Animale, and holds the
worldwide license to manufacture and distribute fragrances and
cosmetics under the Perry Ellis brand name. Members of The Falic
Group serve as international distributors of numerous luxury
brands, such as Diageo, Pernod Ricard, Moet Hennessy, Lancome,
Christian Dior, Gucci, Bvlgari, Cartier, Montblanc, Hermes, Ed
Hardy, Guess and others. 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: Jaime
Sheinheit Investor Relations Iconix Brand Group, Inc. 212.730.0030
Tara Levy Public Relations Iconix Brand Group, Inc. 212.730.0030
DATASOURCE: Iconix Brand Group, Inc. CONTACT: Jaime Sheinheit,
Investor Relations or Tara Levy, Public Relations, both for Iconix
Brand Group, Inc., +1-212-730-0030 Web Site:
http://iconixbrand.com/
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