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March 07, 2007
Iconix Scoops Up Rocawear
Popular streetwear brand Rocawear has been snapped up by Iconix Brand Group Inc. for $204 million in cash and $35 million in stock. The brand was co-founded by music mogul Jay-Z, and he will continue to be in charge of product development, marketing and licensing.
Iconix has also scored a long-term licensing agreement for Rocawear’s young men’s apparel. The group expects to reap significant revenue from the deal, given the success of Jay-Z’s clothing empire.
Posted by Blacks on March 7, 2007 09:28 AM
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