NEW YORK--(BUSINESS WIRE)--July 21, 2005--Iconix Brand Group, Inc.
(NASDAQ: ICON), formerly Candie's, Inc. ("Iconix" or the "Company"),
has entered into a letter of intent to purchase the JOE BOXER(R)
brand, a leading brand of men's, women's and children's underwear,
accessories and apparel, from Joe Boxer Company, LLC and its
The Company is currently negotiating a definitive purchase
agreement, which is subject to the Company's ability to obtain
financing, among other customary closing contingencies.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. (NASDAQ: ICON) is in the business of
licensing the CANDIE'S(R), BONGO(R) and BADGLEY MISCHKA(R) trademarks
on a variety of apparel and fashion products. Through its wholly owned
subsidiary, Brightstar Footwear, Inc., the Company also arranges for
the manufacture of footwear products for mass market retailers. For
investor information please visit the corporate Web site at
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 decision to license its footwear
business, 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
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," 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: Iconix Brand Group, Inc.
Maria Dolgetta, 212-730-0030
SOURCE: Iconix Brand Group, Inc.