NEW YORK--(BUSINESS WIRE)--June 27, 2005--Candie's, Inc., (NASDAQ:
CAND) (the "Company") announced today that effective July 1st it will
change its corporate name to Iconix Brand Group, Inc. ("Iconix") and
will trade on the NASDAQ stock exchange under the ticker symbol ICON.
The name change represents the final step of the transformation of the
Company's business from an operating footwear and apparel company to a
brand management business. Iconix today owns three brands,
Candie's(R), Bongo(R) and Badgley Mischka(R) and has licensed them in
a broad variety of categories to retailers, wholesalers and
Neil Cole, Chairman and CEO of Iconix, stated, "The word Iconix
symbolizes our goal of owning a strong and diversified portfolio of
many leading brands. Our new business model is aligned with the
expertise of our management team and optimizes shareholder value by
minimizing the risks associated with operating a fashion company in
today's retail environment." Cole added, "The proliferation of low
cost overseas manufacturing and retail consolidation is changing the
traditional supply chain model. Our goal is to create strategic
alliances with retailers and suppliers worldwide and add value to this
network through our expertise in marketing and merchandising. We are
excited to have fully transitioned our business to the brand
management model with an infrastructure in place to easily integrate
new brands into our unique platform."
The Company's name change will become official on July 1st, 2005,
with the Company switching NASDAQ ticker symbols from CAND to ICON on
the same day. A new corporate website with information on the Company
and its brands will launch at www.iconixbrand.com.
About Candie's, Inc.
Candie's, Inc. is in the business of licensing the CANDIE'S(R),
BONGO(R) and BADGLEY MISCHKA(R) trademarks to retailers and
manufacturers worldwide. Through its wholly owned subsidiary,
Brightstar Footwear, Inc., the Company also arranges for the
manufacture of footwear products for mass market and discount
retailers under the private label brand of the retailer. For investor
information please visit the corporate web site at
CONTACT: Candie's, Inc.
Maria Dolgetta, 212-819-2084
SOURCE: Candie's, Inc.