| Iconix China Announces Deal for Rampage Brand in Greater China |
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12/28/2008 5:38:21 PM |
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NEW YORK -- Iconix Brand Group, Inc.
(Nasdaq: ICON) ("Iconix"), today announced that Iconix China Limited
("Iconix China"), its 50-50 joint venture with Novel Fashion Brands Limited
("Novel"), has partnered with Mecox Lane Limited ("Mecox") to develop the
Rampage brand in Greater China.
Rampage expects to open in excess of 50 free-standing retail stores,
beginning in Spring/Summer 2009 in multiple cities throughout China. In
addition, Mecox plans on offering Rampage products through its catalog and
e-commerce channels.
Mecox, established in 1996, has developed into one of the largest mail
order companies in China. It offers a wide variety of products from
apparel, jewelry, and cosmetics, to health supplements and home products in
its catalogs. Sequoia China, a division of Sequoia Capital, the well-known
Silicon Valley venture capital firm, owns a controlling position in Mecox.
Neil Cole, Chairman and CEO of Iconix, and Silas Chou, Chairman of
Novel, jointly commented, "We are excited that Iconix China closed its
first deal with Mecox and its investment partner Sequoia China. We believe
this is the first of several deals that will be signed by Iconix China over
the next year."
Veronica Chou, President of Iconix China stated, "We will continue to
pair the Iconix portfolio of brands with the best Chinese operators and
look for companies with strong financial partners such as Mecox and Sequoia
China. The deal we announced today is an exciting step for Iconix China,
but really just the beginning of a much greater opportunity as we
capitalize on the rapidly developing middle class in China."
Alfred Gu, CEO of Mecox said, "Mecox is extremely privileged and
excited to have this opportunity to work with Iconix China. The Chinese
consumer market is ready and in need of a brand like Rampage. Rampage will
make use of Mecox's unique strength of focusing on different platforms. We
have high hopes for Rampage in China."
Iconix China, formed in September 2008 and based in Hong Kong, was
established to develop and expand the Iconix portfolio of brands in Greater
China. Novel is owned and led by Silas Chou and family.
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.
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.
Contact Information:
Maria Dolgetta
Public Relations Director
212.819.2084 |
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