Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Iconix Talks to Buy Kenneth Cole Said to Be Halted

A man looks over products on display in the window of a Kenneth Cole store in New York. Photographer: Ramin Talaie/Bloomberg
A man looks over products on display in the window of a Kenneth Cole store in New York. Photographer: Ramin Talaie/Bloomberg

Oct. 25 (Bloomberg) -- Iconix Brand Group Inc. has halted talks to buy designer Kenneth Cole’s shoe and clothing company, according to two people with knowledge of the matter.

When the talks will restart isn’t clear, said the people, who declined to be identified because the process isn’t public.

New York-based Iconix, run by Kenneth’s brother Neil Cole, owns brands such as Candie’s and London Fog, and licenses them to retailers and manufacturers. It hasn’t run retail stores.

In addition to owning the Kenneth Cole brand, Kenneth Cole Productions Inc., also based in New York, operates 110 stores, based on its last annual report. Kenneth Cole’s market capitalization was $269 million as of Oct. 22.

New York Times reporter Andrew Ross Sorkin said on CNBC earlier today that the talks had fallen apart.

Iconix spokeswoman Tara Levy declined to comment. A representative from Kenneth Cole didn’t immediately return a call.

Kenneth Cole Productions fell 53 cents, or 3.6 percent, to $14.26 at 4:06 p.m. in New York Stock Exchange composite trading. Iconix rose 21 cents to $17.72 on the Nasdaq Stock Market.

To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.