Iconix Brand Group announced today that it has entered into an agreement to increase its ownership interest in the Zoo York brand to 100%. The Company currently owns a 51% controlling interest in the brand, and through the transaction will acquire the remaining 49% for $18 million. Since taking control of the brand in late 2009, the Company partnered with Li & Fung for the core sportswear business and substantially expanded Zoo York's distribution into large scale department stores including JC Penney and Kohl's.
Learn more about the Iconix Brand Group from the Iconix Brand profile on Apparel Search.
Learn more about Li & Fung.
If you are interested, you can also do further research about the Zoo York brand from the links below:
By the way, Li & Fung does not appear to have a direct stake in this purchase. However, I wonder if Li & Fung is taking over the world. Are they???
Learn more about Zoo York from their website.
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