Iconix China Continues Its Growth Strategy With the Expansion of Rocawear Into Greater China
June 01 2009 - 8:30AM
PR Newswire (US)
NEW YORK, June 1 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix" or the "Company"), today announced that
Iconix China, its 50-50 joint venture with Novel Fashion Holding
Limited ("Novel"), is continuing its expansion plans with the
development of its Rocawear(R) brand in Greater China. The new
partnership is with Bosideng International Holdings ("Bosideng").
This is the third deal for Iconix China in the past year. Iconix
China previously signed an agreement with DoRight for its London
Fog(R) brand and an agreement with Mecox Lane Limited for its
Rampage(R) brand. Bosideng will manufacture and distribute Rocawear
men's and women's products in Greater China. Bosideng will launch
in Spring 2010, and plans to open over 300 Rocawear free-standing
stores and shop-in-shop concepts within the next three years. Neil
Cole, Chairman and CEO, Iconix and Silas Chou, Chairman, Novel,
jointly commented, "This new partnership shows the strength of the
Iconix portfolio internationally. In less than one year, Iconix
China signed major partnerships for three brands, Rampage, London
Fog and Rocawear. Rocawear is an internationally recognized brand
with a strong consumer following that will allow us to grow the
business and continue to expand throughout China." Shawn "Jay-Z"
Carter, Co-founder, Rocawear, commented, "When Iconix purchased the
Rocawear trademark two years ago, Neil Cole and I made a commitment
to building Rocawear into a global lifestyle brand. Our expansion
into China is a validation of our joint efforts to bring an
authentic interpretation of American fashion to young people around
the world." Veronica Chou, President of Iconix China stated, "We
are pleased to partner with Bosideng to grow the Rocawear brand in
China. Bosideng is a leader in their field and we are certain in
Bosideng's ability to utilize their supply chain management and
extensive distribution networks to quickly position Rocawear in the
Chinese market." Gao Dekang, Chairman of Bosideng said, "Our strong
retail networks promise to bring the Rocawear brand and it's highly
sought after designs to the Chinese customer. We are delighted to
partner with Iconix China on this exciting new venture to develop
the Rocawear brand." Rocawear is a leading lifestyle brand with a
wide range of customers and categories including men's and women's
sportswear, footwear, outerwear, handbags, belts, loungewear,
headwear, jewelry, sunglasses and children's clothing. Since its
inception in 1999, its appeal has expanded beyond national borders
to become a brand of international significance with annual retail
sales of over $700 million. 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. Bosideng is an
established apparel company in the People's Republic of China. Its
retail distribution network comprises about 5,800 retail outlets
covering more than 65 cities across the nation, selling down
apparel under its six core brands including "Bosideng," "Snow
Flying," "Kangbo," "Bingjie," "Shuangyu" and "Shangyu." 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). In addition, Iconix owns an interest in the ARTFUL
DODGER (R) and ED HARDY (R) brands. 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: Tara Levy Iconix Brand Group, Inc. 212-730-0030
DATASOURCE: Iconix Brand Group, Inc. CONTACT: Tara Levy, Iconix
Brand Group, Inc., +1-212-730-0030 Web Site:
http://iconixbrand.com/
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