NEW YORK, Oct. 3 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (Nasdaq: ICON; "Iconix" or the "Company"), today announced that it has closed on the acquisition of Official Pillowtex, LLC, a licensing company that owns a large portfolio of home brands including four primary brands, Cannon, Royal Velvet, Fieldcrest and Charisma and numerous others home brands including St. Mary's and Santa Cruz. The purchase price for the acquisition was approximately $231 million in cash with contingent payments of up to an additional $15 million in cash based upon the brands surpassing specific revenue targets.

Neil Cole, Chairman and CEO, Iconix, stated, "We are pleased to acquire Pillowtex in a diversifying and transformative acquisition for Iconix. The home sector is a natural progression for Iconix and we plan to infuse these brands with our strategic and innovative marketing as we expand them into new categories."

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) and ROCAWEAR(R) as well as a large portfolio of home brands including CANNON(R), ROYAL VELVET(R), FIELDCREST(R) and CHARISMA(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, with distribution in the U.S. and around the world. Iconix, through its in-house advertising, promotion and public relations agencies, markets its brands to drive greater consumer awareness and equity.

    Contact:  David Conn
              Executive Vice President
              Iconix Brand Group, Inc.
              212.730.0030


SOURCE  Iconix Brand Group, Inc.
    -0-                             10/03/2007
    /CONTACT:  David Conn, Executive Vice President of Iconix Brand Group,
Inc., +1-212-730-0030 /
    /Web site:  http://iconixbrand.com//
    (ICON)

CO:  Iconix Brand Group, Inc.; Official Pillowtex, LLC
ST:  New York
IN:  REA FAS TEX
SU:  TNM

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2139 10/03/2007 16:01 EDT http://www.prnewswire.com