Brand management company Iconix International has announced the acquisition of British streetwear brand Hoodrich, which is looking to bolster its global expansion plans through close partnerships.
As part of the deal, brand founder Jay Williams will continue on as a minority shareholder, while business operations are to be assumed by Batra Group and JD Sports, the latter of which will act as a global retail partner.
The brand is looking to expand into the US, the Middle East and Latin America through JD Sports and other local partners, while further growing its women’s collection and accessories alongside its men’s offering.
On the acquisition, Williams said: “I’m really excited about the future of Hoodrich and can’t wait to grow the brand internationally. I think this is the perfect partnership for Hoodrich and I’m looking forward to working alongside Iconix and Batra, who will be a major support system for the global growth of the brand.”
For Iconix’s chief executive, Bob Galvin, the acquisition will allow Hoodrich to capitalise on the “growing demand for lifestyle streetwear”.
He continued: “We are committed to bringing this high-quality brand to an even bigger global audience and to expand on Williams’ commendable journey so that Hoodrich continues to be not just something, but something great.”