Iconix in Deal With Ecko
New York–based Iconix Brand Group announced an agreement with Ecko Brands New York that will give it a 51 percent controlling interest in the clothing maker. The deal—which includes Ecko’s Zoo York, Marc Ecko and Ecko Unlimited labels—is valued at $63.5 million in cash. Iconix will also obtain $90 million of financing as part of the acquisition.
Iconix—which owns, licenses and markets labels such as Bongo, Op, Ed Hardy, Artful Dodger, Roca Wear, London Fog, Badgley Mischka, Rampage and Mudd—said in a statement that Ecko’s portfolio of brands annually generates more than $1 billion in global retail sales. As part of the deal Iconix will control the licensing of Ecko’s brands. Founder Marc Ecko will continue on as chief creative officer.
“The Ecko portfolio is a collection of powerful lifestyle brands, some of which we believe could lend themselves easily to our direct retail model. In addition, Ecko already has strong licensing partners and a robust European platform, from which we could leverage the rest of our portfolio,” said Neil Cole, Iconix chairman and chief executive, in a statement. —Erin Barajas
