Iconix Acquires Remaining Interest in Ecko Unltd.

Already owning more than half the interest in IPU Holdings Unltd., the owner of Ecko Unltd., brand licensing and marketing specialist Iconix Brands (NASDAQ: ICON  ) announced yesterday that it had acquired the remaining 49% in the company. 

Founded by fashion designer Marc Ecko in 1993, the brand became a fashion staple in the rap and hip-hop scene with artists such as the Beastie Boys, Chuck D, and Spike Lee bringing it to the fore. Iconix paid $45 million cash for the remaining interest while relieving IPU of the obligations associated with a $52 million note.

In addition to Ecko Unltd., Inconix will acquire Marc Ecko Cut & Sew and related trademarks. Marc Ecko Enterprises, or MEE, will continue in its role as the core apparel licensee for the brands.

Iconix Brand CEO Neil Cole said: "We believe there is a strong growth opportunity in the youth culture market around the world and are thrilled to increase our equity in the Ecko Unltd. and Cut & Sew brands. We look forward to continuing to work with our licensees as well as the MEE team to further expand the businesses."

Cut & Sew is available at better department stores. including Dillard's, Macy's, and specialty stores, and its product assortment includes apparel, eyewear, and footwear.

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  • Report this Comment On December 31, 2014, at 2:36 AM, Blackhawk wrote:

    In my year end stumble around, I ran across ICON. I see it's well CAP rated....and I see a quite steep recent drop.

    Kinda my type of investment for 2015, but can anyone clarify or enlighten me on this stock??

    Any input would be greatly appreciated.

    Thanks and Happy, Healthy and Prosperous New Year to all


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9/27/2016 4:00 PM
ICON $8.18 Up +0.07 +0.86%
Iconix Brand Group CAPS Rating: ****