Sponsors
Billabong ▲ +0.015 | PPR ▼ 0.00 | American Apparel ▼ -0.020 | The Buckle ▲ +0.55 | Columbia ▲ +0.09 | Deckers Outdoor ▲ +1.29 | Dicks ▲ +0.96 | Foot Locker ▲ +0.90 | Genesco ▲ +0.90 | Iconix Brand Group ▲ +0.85 | Jarden Corp ▲ +0.70 | Nordstrom ▲ +1.08 | Luxottica ▲ +0.07 | Nike ▲ +1.72 | Pacific Sunwear ▼ -0.06 | Skullcandy ▲ +0.08 | Sport Chalet - 0 | Urban Outfitters ▲ +0.57 | VF Corp ▲ +0.20 | Quiksilver ▼ -0.01 | Zumiez ▲ +0.15 | Macys ▲ +0.86 | Tillys ▼ -0.01 |
Readers Say
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
The most up-to-date information
The most up-to-date information

“Shop-Eat-Surf is a great source for the most up to date information of what is going on in our industry. I always enjoy reading the articles and appreciate the effort from Tiffany and her team."

- By Richard Woolcott, CEO and Founder, Volcom
Industry Insight

4 reasons for B2B companies to embrace ecomm from NuORDER. Invitation to PROCOPIO's Labor and Employment Law seminar.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Iconix to buy Zoo York and Ecko brands

By Tiffany Montgomery
October 27, 2009 6:39 AM

Iconix, owner of Mossimo, Ocean Pacific, Roca Wear and a host of other brands, said this morning it will acquire a controlling interest in Ecko Brands, which include Zoo York, a popular line with skateboarders.

Iconix said the brands are a good candidate for Iconix's direct retail model, though the company did not say what type of distribution channel it is considering.

Iconix has formed partnerships with several retailers that sell its brands exclusively. Op is now sold at Wal-Mart stores, and Mossimo is at Target, for example.

Iconix will pay $63.5 million in cash, and the newly formed joint venture between Iconix and Ecko will receive $90 million in financing at a 7.5% interest rate. Iconix said its total purchase price for the acquisition is $109 million. Iconix will own 51 percent of the joint venture.

Iconix CEO Neil Cole said in a press release that the purchase price was favorable for Iconix.

"Iconix and our shareholders will benefit from this accretive transaction as we are acquiring a strong portfolio of consumer brands at an attractive multiple," he said.

Ecko operates under a licensing model, and the new joint venture is expected to generate $42 million to $44 million in annual net royalty revenue, with Iconix share totaling about $26 million annually.

Other brands Iconix owns include Candie's, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog and Danskin.

 


Articles You Might Have Missed