NEW YORK, April 27 /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 Brands Limited ("Novel"), has
partnered with Shanghai Doright Fashion Co. Ltd ("Doright") to develop the
London Fog(R) brand in Greater China.
Doright will begin distribution of London Fog men's and women's products
for Fall 2009 in multiple cities throughout China. Doright plans to expand the
London Fog brand into more than 180 London Fog shop-in-shop concepts and
stores by the end of 2011.
This partnership marks the second deal for Iconix China. In December
2008, the Company signed its first agreement with Mecox Lane Limited for its
Neil Cole, Chairman and CEO, Iconix and Silas Chou, Chairman, Novel,
jointly commented, "We are excited about our progress in China and believe
that by partnering with strong operating companies such as Doright for London
Fog, we will be able grow and monetize Iconix's portfolio of brands in this
region. Our first deal, for our Rampage brand is off to a great start and we
plan to open around 50 Rampage stores by the end of 2009 and up to 170 stores
by the end of 2011. We believe this is just the beginning of a tremendous
opportunity to grow our full portfolio in China."
Veronica Chou, President of Iconix China stated, "We are very confident
about this partnership with Doright and believe that their solid experience
and strong, established retail network will successfully develop and grow the
London Fog brand in China."
Yong Li Zhang, CEO of Doright said, "London Fog is a widely recognized and
highly regarded brand that we believe will be well received by the Chinese
consumer. We are thrilled to have the opportunity to work with Iconix China
and develop the London Fog brand for this market."
Doright, based in Shanghai, currently operates 590 plus retail stores
throughout China in over 110 cities under multiple brands, including Santa
Barbara Polo & Racquet Club, Hallmark, Jeep and doright.
Iconix China, formed in September 2008 and based in Hong Kong, was
established to develop and expand the Iconix portfolio of brands in Greater
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.
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
SOURCE Iconix Brand Group, Inc.
/CONTACT: Jaime Sheinheit, Investor Relations, Iconix Brand Group,
/Web Site: http://iconixbrand.com/ /
CO: Iconix Brand Group, Inc.; Iconix China; Novel Fashion Brands Limited;
Shanghai Doright Fashion Co. Ltd
ST: New York, China
IN: FAS REA
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5449 04/27/2009 08:30 EDT http://www.prnewswire.com