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current news

Iconix Brings Candie’s To China


Iconix: Britney Spears, the face of Candie’s.
Iconix: Britney Spears, the face of Candie’s.

(Filed Under Financial and General Interest News). Iconix Brand Group, Inc. is growing its Chinese presence. Iconix China Limited, the company’s joint venture with Novel Fashion Brands Limited started in 2008, has partnered with Shanghai La Chapelle Garment and Accessories Co. Ltd. and Trust Bridge Partners to open Candie’s specialty and franchise stores throughout the country. The first Candie’s store is slated to open this August in Shanghai.

By the end of 2010, La Chapelle plans to open 50 branded stores in Shanghai, Bejing, Chongjing and other metropolitan centers. The company plans to open more than 500 Candie’s across China over the next five years. Candie’s merchandise, geared toward the junior women’s and girls markets, includes intimate apparel, sleepwear and swimwear, in addition to other product categories.

The Candie’s expansion is just a part of Iconix growth strategy in the region. The company projects that, with its newly acquired Peanuts brand, it will operate approximately 1,700 stores and 3,300 additional points-of-sale in China within three years. Candie’s merchandise, geared toward the junior women’s and girls markets, includes intimate, sleepwear and swimwear, in addition to other product categories.

“We are extremely pleased with the early progress of our current partnership in China for Rampage, London Fog, Rocawear and Badgley Mischka, and [are] excited about our new business with Candie’s and the well established business of Peanuts in the region,” Neil Cole, chief executive officer of Iconix, said in a statement. “We see China as a key part of Iconix’s long term growth that is not factored in our goal of 15 to 20 percent growth.”


more Financial and General Interest News >>

Published 06-23-2010 by Amanda Torres Price

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