Breaking News

Tweet TWEET

Iconix Brand Group Announces Definitive Agreement To Acquire Internationally Renowned Brand, Umbro

 Iconix Brand Group Announces Definitive Agreement To Acquire Internationally
                            Renowned Brand, Umbro

PR Newswire

NEW YORK, Oct. 24, 2012

NEW YORK, Oct. 24, 2012 /PRNewswire/ --Iconix Brand Group, Inc. (NASDAQ:
ICON) ("Iconix" the "Company") announced today that it has signed a definitive
agreement to acquire the Umbro® brand and related intellectual property assets
from NIKE, Inc. for $225 million in cash. The transaction is expected to
close by the end of the year.

(Photo: http://photos.prnewswire.com/prnh/20121024/NY99056-a )
(Photo: http://photos.prnewswire.com/prnh/20121024/NY99056-b )

Founded in 1924, Umbro is the original global football (soccer) brand. Today,
the brand combines its British heritage with a modern football (soccer)
lifestyle to create iconic sports apparel, footwear.

"Umbro is a true, authentic football brand with a global loyal consumer fan
base and we are thrilled to be adding it to our portfolio of iconic brands,"
stated, Neil Cole, CEO of Iconix. "Umbro is an exciting acquisition with more
than 30 licensees in over 100 countries with a devout following. We look
forward to working with our international partners to maintain and expand upon
the rich heritage of the brand," Cole added.

"It is a difficult decision to divest any business but this will enable us to
focus on our highest-potential growth opportunities," said NIKE, Inc.
President and CEO, Mark Parker. "Umbro has a great heritage, but ultimately,
as our category strategy has evolved, we believe Nike Football can serve the
needs of footballers both on and off the pitch."

Iconix owns 29 consumer brands in the fashion, athletic, electronic,
entertainment and home industries. With this acquisition, the Company's brands
will generate approximately $13 billion in retail sales globally, with over
$2.5 billion attributable to the Company's portfolio of athletic brands, which
also includes Starter and Danskin. This transaction marks Iconix's second deal
with NIKE, as it purchased the Starter brand from them in 2007. Starter has
flourished under Iconix leadership.

Details of this transaction will be discussed on the Company's third quarter
earnings conference call on Tuesday, October 30, 2012.

About Iconix Brand Group, Inc.

Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of
consumer brands including: CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE
BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC
(R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R),
CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), and SHARPER IMAGE (R).
In addition, Iconix owns interests in the ARTFUL DODGER (R), ECKO (R), MARC
ECKO (R), ED HARDY (R) MATERIAL GIRL (R), PEANUTS (R), and TRUTH OR DARE
brands. The Company licenses its brands to a network of leading retailers and
manufacturers that touch every major segment of retail distribution from the
luxury market to the mass market in both the U.S. and worldwide. Through its
in-house business development, merchandising, advertising and public relations
departments Iconix manages its brands to drive greater consumer awareness and
equity.

About NIKE, Inc.

NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer,
marketer and distributor of authentic athletic footwear, apparel, equipment
and accessories for a wide variety of sports and fitness activities.
Wholly-owned NIKE subsidiaries include Cole Haan, which designs, markets and
distributes luxury shoes, handbags, accessories and coats; Converse Inc.,
which designs, markets and distributes athletic footwear, apparel and
accessories; Hurley International LLC, which designs, markets and distributes
action sports and youth lifestyle footwear, apparel and accessories; For more
information, visit www.nikeinc.com and follow @Nike.

Contact:

Iconix Brand Group, Inc.
Maria Dolgetta
212.819.2084
mdolgetta@iconixbrand.com

Nike
Charlie Brooks
503.532.8759
charlie.brooks@nike.com

SOURCE Iconix Brand Group, Inc.

Website: http://www.iconixbrand.com
 
Press spacebar to pause and continue. Press esc to stop.