NEW YORK, Jan. 7 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(Nasdaq: ICON) ("Iconix") today announced that it has entered into a joint
venture with New Brands Americas LLC ("New Brands") to further develop and
exploit the Iconix brands in Latin America. New Brands is a member of The
Falic Group, a Florida based consortium owned and operated by Simon, Jerome
and Leon Falic.
The joint venture company, Iconix Latin America, will focus on maximizing
royalty revenue via existing and new licensing agreements for the Iconix
portfolio of brands in Mexico, Central America, South America, and the
Caribbean, which today number 16. In exchange for $6 million plus other
commitments, New Brands received a 50% interest in the joint venture, which
will also have an option to purchase rights to future brands acquired by
Neil Cole, Chairman and CEO of Iconix, commented, "We are pleased to
announce the formation of Iconix Latin America with The Falic Group. The Falic
brothers have extensive expertise and contacts in the Latin American market.
Having locally based partners with knowledge of the different cultures and
markets that comprise this region will significantly accelerate the growth of
our brands throughout this territory and help us maximize revenue from our
existing licensing base in Latin America. Different from our joint venture in
China, Iconix Latin America will be run as a traditional licensing business
with near-term revenue opportunity."
Leon Falic, President of New Brands, commented, "This exciting venture
will enable us to capitalize on the ever growing Latin American market for
proven U.S. brands. Because of recent demographic changes in Latin America, we
feel that this a unique opportunity to bring the Iconix brands to a thriving
new group of consumers there. We are looking forward to working with Neil and
his team at Iconix to maximize each brand."
Iconix Latin America is the second international joint venture for Iconix.
Iconix China, a Hong Kong company formed by Iconix and Novel Fashion Brands
Limited, led by Silas Chou and family, was completed in September 2008 to
develop the Iconix brands in Greater China.
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). 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.
About New Brands Americas LLC:
New Brands Americas LLC is a member of The Falic Group of companies, which
are involved in the retail sale, manufacture and international distribution of
luxury goods. The Falic Group owns and operates Duty Free Americas, Inc., the
largest duty free retail store operator in the Americas, with over 150 duty
free shops located in major international airports and border crossings. The
Falic Group also owns the House of Christian Lacroix and several fragrance and
cosmetics brands, including Urban Decay, Hard Candy and Animale, and holds the
worldwide license to manufacture and distribute fragrances and cosmetics under
the Perry Ellis brand name. Members of The Falic Group serve as international
distributors of numerous luxury brands, such as Diageo, Pernod Ricard, Moet
Hennessy, Lancome, Christian Dior, Gucci, Bvlgari, Cartier, Montblanc, Hermes,
Ed Hardy, Guess and others.
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 acquisition of additional licenses, 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 licensees' 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," "will," "project," "provide," "guidance" 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.
Iconix Brand Group, Inc.
Iconix Brand Group, Inc.
SOURCE Iconix Brand Group, Inc.
/CONTACT: Jaime Sheinheit, Investor Relations or Tara Levy, Public
Relations, both for Iconix Brand Group, Inc., +1-212-730-0030/
/Web Site: http://iconixbrand.com/ /