Iconix in China
New York–based Iconix Brand Group Inc. formed a joint venture with Hong Kong–based Novel Fashion Holdings Ltd. The joint venture, called Iconix China, will look for an Asian partner to help market one of Iconix’s brands—including Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, Mossimo, Danskin and Rocawear—in China. Iconix China will also look for acquisition possibilities among Asian brands. In addition, the joint venture will receive royalties from the existing license agreements Iconix already has in the region, including Ocean Pacific, which is licensed to Wal-Mart; London Fog, which is licensed to New Foundations; and Cannon and Royal Velvet, which are licensed to Li & Fung.
