×
2 487
Fashion Jobs
PRETTYLITTLETHING
Senior Affiliate Marketing Executive
Permanent · MANCHESTER
BOOHOO
Ecommerce Trading Executive
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Dublin - 15 Hours - Part-Time, Permanent
Permanent · Dublin
SHISEIDO
Nars Account Manager - Harvey Nichols London (37.5 Hours)
Permanent · London
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Buying Admin Assistant
Permanent · MANCHESTER
Published
Jun 26, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iconix to sell Starter China

Published
Jun 26, 2020

Following its announcement of the sale of Umbro China, Iconix China Limited, New York-based brand management company Iconix Brand Group, Inc.’s Chinese subsidiary, revealed on Thursday that it has also signed a deal to sell the Starter China business.


The Starter China sale is set to close by September 15, 2020 - Instagram: @starterofficial

 
According to a SEC filing made by the company, Iconix China has entered into a share purchase agreement to sell all equity interests of the Starter China Limited to an unnamed buyer for consideration of $16.0 million.
 
The deal will include the sale of the Starter sportswear brand on mainland China, Hong Kong, Taiwan and Macau, and is expected to close by September 15, 2020, subject to the satisfaction or waiver of customary closing conditions.

Iconix said that it intends to use the funds obtained from the sale for debt repayment and general corporate expenses.
 
News of the deal comes after Iconix’s announcement of the sale of Umbro China in April of this year, a matter of months after the company’s CEO, Robert Galvin, suggested in a November earnings call that the group had been working with the “wrong partner” for the sportswear brand on the Chinese market.
 
The Umbro China sale will see the brand’s Chinese operations go to HK Qiaodan for $62.5 million and is also expected to close by September 15.
 
Similarly to a number of fashion-focused companies, Iconix’s operations have been heavily impacted by the Covid-19 pandemic. The group, whose owned brand portfolio also includes Lee Cooper and Ecko Unltd., reported a net loss of $21.5 million, or $1.86 per diluted share, for the first quarter ended March 31, 2020.
 
The company’s revenue for the period was $28.0 million, representing a 22% year-over-year decline.

Copyright © 2022 FashionNetwork.com All rights reserved.