NEW YORK, June 22 /PRNewswire-FirstCall/ -- Iconix Brand
Group, Inc. (Nasdaq: ICON) ("Iconix") (the "Company"), today
announced that Iconix China Limited ("Iconix China"), its 50-50
joint venture with Novel Fashion Brands Limited ("Novel"), has
partnered with Shanghai La Chapelle Garment and Accessories Co.,
Ltd. ("La Chapelle") and private equity group Trust Bridge Partners
to open free standing specialty and franchise Candie's stores
throughout Greater China. When combined with the Company's
newly acquired Peanuts brand, Iconix's total presence among all of
its brands in Greater China is
projected to grow to approximately 1,700 stores and over 3,300
other points-of-sale in the next three years.
(Photo: http://photos.prnewswire.com/prnh/20100622/NY24889 )
(Photo: http://www.newscom.com/cgi-bin/prnh/20100622/NY24889
)
The first free standing Candie's specialty store will open
August 2010 in Shanghai. By the
end of this year, La Chapelle is projecting a total of 50 Candie's
stores to open in Shanghai,
Beijing, Chongjing, and other
first-tier cities. The long-term growth plan is to open over 500
Candie's free-standing stores across China over five years.
Outside of our Iconix China business, the Peanuts business in
Greater China already has a strong
and growing presence throughout China with approximately 700 Snoopy Stores,
Charlie Brown Cafes, Snoopy Bakeries and 3,300 other
points-of-sale. With the support of its current partners, the
business is expected to flourish and expand throughout Greater China.
"We are extremely pleased with the early progress of our current
partnerships in China for Rampage,
London Fog, Rocawear and Badgley
Mischka, and excited about our new business with Candie's
and the well established business of Peanuts in the region," stated
Neil Cole, CEO, Iconix Brand
Group. Cole added, "We see China as a key part of Iconix's long term
growth that is not factored in our goal of 15-20% growth.
Between the five deals we have signed in China plus the Peanuts business, we project
our brands to grow to 5,000 stores and shop-in-shops in
China within the next three
years."
Iconix China, which was formed in September 2008 and based in Hong Kong, was established to develop and
expand the Iconix portfolio of brands in Greater China. To date, Iconix China portfolio
consists of the Rampage by Mecox Lane Limited, London Fog by
Shanghai Doright Fashion Co., Rocawear by Bosideng International
Holdings, Badgley Mischka by Eve NY
and Candie's by Shanghai La Chapelle Garment & Accessories Co.,
Ltd. brands. The Peanuts business operates separately through
a consortium of direct licensees with Iconix Brand Group, Inc.
The new Candie's partnership is subject to regulatory
clearance and other customary closing conditions.
About Shanghai La Chapelle Garment and Accessories Co., Ltd.
Founded in 1998, Shanghai La Chapelle Garment and Accessories
Co., Ltd. is a leading woman's manufacturer and distributor
specializing in branding, proprietary design, production and
distribution.
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).
In addition, Iconix owns an interest in the ARTFUL DODGER (R),
ED HARDY (R), ECKO (R), MARC ECKO (R), ZOO YORK (R), MATERIAL GIRL™, and
PEANUTS (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.
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Contact Information:
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Tara Levy
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Public Relations
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Iconix Brand Group
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212.730.0030
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Jaime Sheinheit
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Investor Relations
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Iconix Brand Group
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212.730.0030
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SOURCE Iconix Brand Group, Inc.