Iconix acquires Lee Cooper

Iconix Brand Group, which owns, licenses and markets a number of fashion brands

including Madonna’s Material Girl, Badgley Mischka and London Fog, has today announced that it has acquired denim lifestyle brand Lee Cooper.

In a statement, Iconix confirmed that they acquired the brand through the Company’s Luxembourg subsidiary, Iconix Luxembourg Holdings Sarl, and paid 72 million dollars in cash. Adding that they acquired the British denim brand to boost its international presence, and that they expected the Lee Cooper brand to account for 33 percent of its international business in 2013.

Founded in 1908, today Lee Copper is a pure licensing business with a group of 35 international licensees, including Landmark in the Middle East and Future Group in India, that are expected to generate approximately 14 million dollars in annual royalty revenue in 2013.

The brand is sold in over 80 countries, predominantly in Europe, Asia and the Middle East, and represents about 500 million dollars in annual global sales.

Neil Cole, CEO, Iconix Brand Group, Inc., said: "We are excited to add another truly global brand to our portfolio and expect with the addition of Lee Cooper, our international business to represent approximately 33 percent of our overall business in 2013.

“With Lee Cooper's portfolio of international licensees we look forward to leveraging these new relationships to further grow our worldwide footprint."