Iconix to purchase Ocean Pacific brand from Warn - sportstextiles: Lea SportsTextiles

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Iconix to purchase Ocean Pacific brand from Warnaco

02/11/2006

Iconix Brand Group Inc. is to purchase the Ocean Pacific (OP) brand from The Warnaco Group Inc. for $54 million. Currently, the OP action sports lifestyle brand has 30 license agreements, half of which are international. Primary licensed categories include footwear, kid's apparel, eyewear, fragrance, skateboards and surfboards. As part of the transaction, Warnaco will be granted a license from Iconix to continue to manufacture and sell women's and junior swimwear.

Commenting on the purchase, Neil Cole, chairman and CEO of Iconix, said that the action sports lifestyle segment is an area that the company has been looking to penetrate, adding: “OP has a large global footprint with 15 different international licensees, and Iconix believes it can expand OP's international business further and significantly grow the brand's penetration in the US."


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