Danskin (brand)
| Company type | Private |
|---|---|
| Industry | Brand management, Licensing |
| Founded | 1978 |
| Founder | Neil Cole |
| Headquarters | New York City , United States |
Key people | Robert Galvin (CEO) |
| Products | Brand licensing, brand management |
Iconix Brand Group, Inc. is a U.S.-based brand management firm specializing in licensing well-known brands primarily within the apparel, footwear, and accessory sectors.
History and operations
Initially operating as Candie's, Inc., Iconix grew significantly through a series of acquisitions: Bongo in 1998; Badgley Mischka in 2004; Joe Boxer and Rampage in 2005; followed by Mudd, London Fog, Mossimo, and Ocean Pacific in 2006. The company continued expanding by acquiring Cannon, Danskin, Artful Dodger, and Rocawear in 2007. Later that year, Iconix purchased Starter from Nike.
In 2009, Iconix acquired a majority 51% interest in the urban fashion label Eckō Unltd. for $109 million, achieving full ownership by 2013. The following year, Iconix collaborated with Charles M. Schulz Creative Associates to acquire Peanuts assets, establishing Peanuts Worldwide with Iconix holding an 80% share.
The company broadened its portfolio further by purchasing The Sharper Image in 2011 and acquiring Umbro from Nike for $225 million in 2012. In 2013, Iconix obtained Lee Cooper and secured majority ownership of Buffalo David Bitton for $76.5 million to strengthen its presence in premium market segments.
In 2015, Iconix acquired Strawberry Shortcake from American Greetings alongside North American rights to Pony through a joint venture. That same year witnessed executive departures amid an SEC inquiry initiated by concerns over the 2014 financial disclosures; the firm's stock value declined by 24%. By December 2019, the SEC filed fraud charges against Iconix and former executives; COO Seth Horowitz admitted guilt while the company agreed to a $5.5 million settlement. Legal actions involving founder Neil Cole were ongoing as of mid-2020.
In 2017, Iconix sold off Badgley Mischka and The Sharper Image. Additionally, DHX Media purchased Iconix’s entertainment assets—including Strawberry Shortcake and an 80% stake in Peanuts Worldwide—for $345 million.
Robert Galvin assumed the role of CEO in October 2018. In July 2020, Iconix declared it was considering a potential sale. By mid-2021, private equity firm Lancer Capital acquired all outstanding shares, privatizing the company and removing it from Nasdaq listing.
Key brands
Iconix’s brand collection features Candie's, Joe Boxer, London Fog, Mossimo, Rocawear, Starter, Umbro, Lee Cooper, Buffalo David Bitton, Pony among others—supporting its core strategy of global brand licensing.
Corporate profile
Founded by entrepreneur Neil Cole in 1978 and based in New York City, Iconix has consistently pursued growth through acquiring established brands to increase market penetration and enhance revenue via licensing agreements worldwide. Its financial peak occurred in fiscal year 2011 with revenues reaching $400 million and profits of $80 million before regulatory issues affected its management and organizational structure.
Federal investigations
In 2003, founder Neil Cole and Candie's resolved SEC allegations concerning fraudulent accounting practices; Cole paid $75,000 without admitting fault. In 2019, Cole faced ten criminal charges including securities fraud and conspiracy. To settle SEC claims, Iconix consented to a $5.5 million civil penalty.
Brands
Iconix has overseen a wide-ranging brand portfolio aligned with its licensing-focused business model and brand management expertise.
Current
- Artful Dodger
- Bongo
- Buffalo David Bitton
- Candie's
- Cannon Mills
- Charisma
- Danskin
- Ed Hardy
- Eckō Unltd. and Marc Eckō Cut & Sew
- Fieldcrest
- Joe Boxer
- Lee Cooper
- London Fog
- Material Girl
- Modern Amusement
- Mossimo
- Mudd
- Ocean Pacific/OP
- Pony
- Rampage
- Rocawear
- Royal Velvet
- Starter
- Umbro
- Waverly
- Zoo York
Former brands
To optimize its portfolio and concentrate on primary sectors, Iconix has sold off multiple brands:
- Pillowtex
- Truth or Dare
- Badgley Mischka (2004–2017)
- Peanuts Worldwide (80%; 2010–2017); transferred ownership to DHX Media (currently WildBrain) in 2017
- The Sharper Image (2011–2017)
- Strawberry Shortcake, purchased from American Greetings in 2015 and later sold to DHX Media in 2017
See also
External links
- Iconix Brand Group
- Branding companies of the United States
- Companies based in New York City
- Marketing companies established in 1978
- Sportswear brands
- Clothing brands of the United States
- Companies formerly listed on the Nasdaq
- Dancewear companies
- American companies established in 1882
- Companies of the United States by year of establishment