NEW YORK, March 17, 2010 /PRNewswire via COMTEX/ -- MG ICON, the newly formed joint venture between Iconix Brand Group (Nasdaq: ICON) and Madonna and Guy Oseary have announced their first designer accessories collection, MDG. MDG is a sunglass collection personally designed by Madonna together with the designer-duo Domenico Dolce and Stefano Gabbana.
The collaboration marks Madonna's first foray into the world of eyewear and is the first co-branded project Dolce and Gabbana have done in their career. The collection will showcase the MDG logo on styles and will be manufactured by Luxottica. The collection will retail from $248 to $289 and will be carried in all Dolce & Gabbana stores worldwide, plus the Sunglass Hut chain and select opticians. The MDG collection will debut during the May market.
Neil Cole, CEO and Chairman, Iconix Brand Group stated, "MDG shows the diversity and range of brands and opportunities under MG Icon umbrella. We look forward to the growth potential of this collection which aligns designing duo Domenico Dolce and Stefano Gabbana's expertise with Madonna's vision."
Stefano Gabbana recently told Women's Wear Daily, "We're so excited. This further strengthens our relationship with Madonna, and it was a very constructive experience for us." Dolce added, "We thought, why not do something together and unite two very strong and high-profile names."
MG Icon LLC is a joint venture owned 50% by Iconix (Nasdaq: ICON) and 50% by an entity controlled by Madonna and Guy Oseary. MG Icon will develop and explore business initiatives globally including the creation and acquisition of brands as well as exploring opportunities within the Iconix portfolio. MG Icon holds a direct-to-retail license agreement with Macy's, Inc. for the "Material Girl" collection. "Material Girl" is a newly created, fast-fashion junior collection.
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). In addition, Iconix owns an interest in the ARTFUL DODGER (R), ED HARDY (R), ECKO (R), MARC ECKO (R) and ZOO YORK (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 equity.
Vice President, PR Iconix
Liz Rosenberg Media
SOURCE Iconix Brand Group, Inc.