Teneo Restructuring was appointed as joint administrator of GIHCL. Iconix now owns 100% of the regional businesses and will manage the Iconix brand portfolio throughout Europe, Southeast Asia and the Middle East. Iconix will leverage its global expertise in brand management as these regions come under the full control of Iconix. The acquisition included all Iconix-owned brands except Buffalo David Bitton, Lee Cooper, and Umbro in Europe.
"We are proud to announce our 100% ownership of Iconix Mena Limited, Iconix Europe, and Iconix Southeast Asia; maintaining direct ownership will allow Iconix more control over positioning product in the marketplace and more flexibility to focus on digital-led marketing initiatives," says Bob Galvin, chief executive officer,president, Iconix Brand Group. "We already have solid partners in place, and we are planning on business as usual for our partners while we continue to look to leverage those best-in-class."
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