Company also reaffirms Guidance for full year 2007 and 2008NEW YORK, Jan 16, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Iconix Brand Group, Inc.
(Nasdaq: ICON) ("Iconix" or the "Company"), today announced it has entered
into license agreements for its Royal Velvet (R), Badgley Mischka (R),
Rocawear (R), London Fog (R), Op (R) and Rampage (R) brands that expand
existing product categories and open new markets.
Domestically, Iconix has entered into a license agreement for its newly
acquired home brand, Royal Velvet, with Mohawk Home for bath and scatter rugs.
Mohawk Home, a division of Mohawk Industries, will debut the new Royal Velvet
collections for Spring 2008. Under the terms of the agreement, Mohawk Home
will manufacture and produce bath, scatter and kitchen rugs to be sold in the
United States and Canada in department and specialty stores as well as online
Continuing to grow its Badgley Mischka brand's licensing portfolio, the
Company announced a long-term license agreement with Zalemark for Badgley
Mischka fine jewelry. The luxurious jewelry collection will be distributed
through high-end retail stores and will launch for Fall 2008 at the May 2008
The Company has entered into a license agreement with K&M Jewelry for its
Rocawear brand. K&M will manufacture and distribute Rocawear costume jewelry
and will launch the first collection for Fall 2008 at the MAGIC tradeshow in
Additionally, the Company has signed a license agreement with Synclaire
Brands/BCNY to manufacture and distribute London Fog women's and men's socks
and women's hosiery which will be sold at department stores throughout the
Internationally, the Company has signed a long-term master license
agreement with Pena Group to distribute the Rampage brand exclusively in
Thailand. Pena Group is one of the leading manufacturers and fashion
retailers in Thailand, with more than 100 free standing retail stores and 150
shop-in-shops throughout Thailand and currently holds the license for a
variety of international fashion brands including Nautica, Ecko Unlimited and
Diesel in Thailand. The Company has also extended a master license for its Op
brand with MGS for men's, women's and children's apparel and accessories
including bags and backpacks in Israel.
Neil Cole, Chairman and CEO, Iconix, stated, "We are pleased to welcome
our new partners to our expansive network of over two hundred licensees
worldwide. Iconix continues to grow and we are always excited to pair with
industry leaders as we expand our brands into complete lifestyle collections
in the Unites States and abroad."
Separately, the Company is reaffirming its previously stated guidance for
the full years 2007 and 2008. For 2007, the Company is reaffirming revenue and
fully diluted EPS at the higher end of its ranges of $150 - $160 million and
$0.96 - $1.00 respectively. For 2008, the Company is reaffirming its
previously stated guidance of revenue between $240 - $250 million and fully
diluted EPS between $1.35 and $1.40. As announced earlier, management will be
presenting this afternoon at the 10th Annual ICR XChange Conference. The audio
portion of the presentation will be webcast live. The presentation materials
will be posted at the Company's web site, www.iconixbrand.com. The webcast can
be found in the investor relations section of the company website.
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) and STARTER (R). The Company licenses
it 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.
Public Relations Manager
Iconix Brand Group, Inc.
SOURCE Iconix Brand Group, Inc.