ForgotPassword?
Sign Up
Search this Topic:
Forum Jump
Posts: 4443
Jan 12 10 2:47 PM
Posts: 6082
Jan 12 10 2:53 PM
*Kingston Avenue
Posts: 2126
Jan 12 10 2:57 PM
Posts: 597
Jan 12 10 5:02 PM
Posts: 2951
Jan 12 10 5:09 PM
For now on call me LObama!!!
Posts: 2470
Jan 12 10 9:17 PM
Posts: 74
Jan 12 10 11:57 PM
Posts: 2087
Jan 13 10 6:03 AM
Posts: 441
Jan 13 10 8:13 AM
Jan 13 10 12:03 PM
jcorderos wrote: I read a while while while back he was in terrible debt before his line picked up. like 6 mill but i thought he was good.
Urbanwear designer Marc Ecko has gotten a lifeline for his struggling business. Iconix Brand Group Inc., which owns labels such as Roca Wear and Mossimo, has acquired a controlling stake in Marc Ecko Enterprises, the companies announced Tuesday.
"This new venture provides me the bandwidth for my brand and allows me the resources and freedom to extend my professional and creative ambitions beyond my current platform of fashion, video gaming and publishing," said Mr. Ecko in a statement. He will continue as chief creative officer.
Iconix paid $109 million for its stake, $63.5 million of which was paid upfront in cash. It now owns 51% of the venture, and expects to generate between $42 million and $44 million in annual net royalty revenue. Iconix generates about $8 billion in annual retail sales.
The company is on a tear despite the retail downturn. On Tuesday, Iconix reported $59.4 million in third-quarter revenues, an 8% increase over the year-earlier period, and profit rose 25% to $20.5 million for the quarter, over last year. The company's stock is up nearly 40% for the year, and is currently trading near $12.50.
Other fashion firms have struggled with the recession. Mr. Ecko, who started his brand in 1993 and quickly expanded it into an empire that includes magazine publishing and video gaming, has faced rising debts to factors such as CIT Group Inc. and other lenders in recent months.
In the spring, he sold his watch trademarks to Timex Group and his Avirex young men's brand to Kids Headquarters in an effort to raise funds. He also shuttered several stores, and abandoned plans for a three-level Times Square flagship. Over the summer, he put his 275,000-square-foot West 23rd Street headquarters, which costs the firm $9 million in annual rent, up for lease.
Industry experts say the Iconix partnership is a good move for Mr. Ecko, who had previously denied that he would ever sell a stake in his enterprise.
"For him, Iconix is ideally positioned to get him into a broader market," said Matt Hogan, a brand consultant, noting that Iconix already has several exclusive partnerships for many of its brands such as Mossimo at Target.
Mr. Hogan added that Mr. Ecko should be able to maintain his standing with urban consumers, because Iconix already has many urban brands such as Starter and Roca Wear, as well as contemporary brands like Rampage, which are similar to the labels Mr. Ecko carries.
"His (business) is built on street credibility, and that's diluted if he comes across as a corporate shill," said Mr. Hogan.
Posts: 2455
Jan 13 10 1:05 PM
http://www.smart-crew.com
Posts: 34
Jan 13 10 5:50 PM
Posts: 502
Jan 13 10 7:14 PM
Jan 13 10 8:20 PM
Posts: 372
Jan 13 10 10:03 PM
Posts: 2181
Jan 14 10 11:38 AM
cp92 wrote: Gentlemen, Can someone please give me a call when Marc Ecko has passed. Thank you CP92
Jan 14 10 4:34 PM
juggaknot 77 wrote: cp92 wrote: Gentlemen, Can someone please give me a call when Marc Ecko has passed. Thank you CP92 HAHAHA
Posts: 1494
Jan 14 10 10:00 PM
Lo sweaters and better.. FAT leather so whatever.. bring it on
Posts: 1735
Jan 15 10 12:52 AM
Jan 15 10 1:45 PM
Share This