NEW YORK, June 1 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(Nasdaq: ICON) ("Iconix" or the "Company"), today announced that Iconix China,
its 50-50 joint venture with Novel Fashion Holding Limited ("Novel"), is
continuing its expansion plans with the development of its Rocawear(R) brand
in Greater China. The new partnership is with Bosideng International Holdings
("Bosideng"). This is the third deal for Iconix China in the past year.
Iconix China previously signed an agreement with DoRight for its London Fog(R)
brand and an agreement with Mecox Lane Limited for its Rampage(R) brand.
Bosideng will manufacture and distribute Rocawear men's and women's
products in Greater China. Bosideng will launch in Spring 2010, and plans to
open over 300 Rocawear free-standing stores and shop-in-shop concepts within
the next three years.
Neil Cole, Chairman and CEO, Iconix and Silas Chou, Chairman, Novel,
jointly commented, "This new partnership shows the strength of the Iconix
portfolio internationally. In less than one year, Iconix China signed major
partnerships for three brands, Rampage, London Fog and Rocawear. Rocawear is
an internationally recognized brand with a strong consumer following that will
allow us to grow the business and continue to expand throughout China."
Shawn "Jay-Z" Carter, Co-founder, Rocawear, commented, "When Iconix
purchased the Rocawear trademark two years ago, Neil Cole and I made a
commitment to building Rocawear into a global lifestyle brand. Our expansion
into China is a validation of our joint efforts to bring an authentic
interpretation of American fashion to young people around the world."
Veronica Chou, President of Iconix China stated, "We are pleased to
partner with Bosideng to grow the Rocawear brand in China. Bosideng is a
leader in their field and we are certain in Bosideng's ability to utilize
their supply chain management and extensive distribution networks to quickly
position Rocawear in the Chinese market."
Gao Dekang, Chairman of Bosideng said, "Our strong retail networks promise
to bring the Rocawear brand and it's highly sought after designs to the
Chinese customer. We are delighted to partner with Iconix China on this
exciting new venture to develop the Rocawear brand."
Rocawear is a leading lifestyle brand with a wide range of customers and
categories including men's and women's sportswear, footwear, outerwear,
handbags, belts, loungewear, headwear, jewelry, sunglasses and children's
clothing. Since its inception in 1999, its appeal has expanded beyond national
borders to become a brand of international significance with annual retail
sales of over $700 million.
Iconix China, formed in September 2008 and based in Hong Kong, was
established to develop and expand the Iconix portfolio of brands in Greater
Bosideng is an established apparel company in the People's Republic of
China. Its retail distribution network comprises about 5,800 retail outlets
covering more than 65 cities across the nation, selling down apparel under its
six core brands including "Bosideng," "Snow Flying," "Kangbo," "Bingjie,"
"Shuangyu" and "Shangyu."
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) and ED HARDY (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
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.
SOURCE Iconix Brand Group, Inc.
Web Site: http://iconixbrand.com/