Madonna and Iconix Brand Group Announce Global Joint Venture, MG Icon
March 10 2010 - 7:45AM
PR Newswire (US)
NEW YORK, March 10 /PRNewswire-FirstCall/ -- Madonna and Iconix
Brand Group, Inc. ("Iconix") have announced the formation of MG
Icon LLC ("MG Icon"), a joint venture to be owned 50% by Iconix and
50% by an entity controlled by Madonna and Guy Oseary. MG Icon will
develop and explore business initiatives in the United States and
around the world including the creation and acquisition of brands
as well as exploring opportunities within the Iconix portfolio.
This partnership marks Madonna's first joint venture endeavor into
the branding industry. "Madonna is a legend in the world of music,
fashion and entertainment and now with her deep involvement in MG
Icon we will be able to leverage her vision into consumer products
globally," stated Neil Cole, CEO and Chairman, Iconix Brand Group.
"Our strategy is to introduce brands formed through the joint
venture in multiple countries and organically expand worldwide,"
Cole concluded. Madonna stated, "Joining forces with Iconix to
bring my fashion ideas to consumers is very exciting for me. I look
forward to working closely with Neil and his team to create and
translate my vision and ideas for MG Icon." MG Icon has entered
into an exclusive license and services agreement with Madonna
allowing the use of Madonna's name and personality in connection
with apparel, footwear and other products. Madonna has agreed to
provide creative services in connection with the development and
promotion of the venture's brands and opportunities. MG Icon will
announce a Macy's direct-to-retail agreement imminently. Madonna, a
multi Grammy winning artist, cultural icon, Rock and Roll Hall of
Fame inductee, director, producer, documentarian, children's book
author, video visionary and humanitarian has sold over 200 million
albums in the course of her unparalleled career in the
entertainment business. Her recent "Sticky and Sweet" Tour was the
most successful concert tour by a solo artist in history.
Additional information will be available in the investor relations
section of the company website, http://www.iconixbrand.com/. About
Iconix Brand Group, Inc: Iconix Brand Group Inc. 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), ED HARDY (R), ECKO (R), MARC
ECKO (R) and ZOO YORK (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. Contact: Iconix Contact: Maria Dolgetta VP of
Public Relations 212.819.2084 mdolgetta@iconixbrand.com Madonna
Contact: Liz Rosenberg 212.991.4290 liz@lizrosenbergmedia.com
DATASOURCE: Iconix Brand Group, Inc. CONTACT: Maria Dolgetta, VP of
Public Relations of Iconix Brand Group,Inc., +1-212-819-2084,
mdolgetta@iconixbrand.com; or Liz Rosenberg,+1-212-991-4290,
liz@lizrosenbergmedia.com, for Madonna Web Site:
http://www.iconixbrand.com/.
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