Badgley Mischka buys back name from Iconix Brand
Iconix Brand Group, Inc. on Tuesday announced that it has sold the rights to the Badgley Mischka IP to Titan Industries, Inc. in partnership with the brand’s founders, Mark Badgley and James Mischka, and the apparel licensee MJCLK LLC for $16 million in cash.
Iconix acquired the Badgley Mischka IP in 2004, and the company decided to sell the brand citing lack of time and resources to support the brand as the reason. The transaction is not reflected in Iconix’s current guidance, and it will provide an updated guidance for 2016 when it reports its fourth quarter and full year 2015 financial results.
"We have had a productive 11 years working with the Iconix team to build Badgley Mischka from its red carpet origins to a full lifestyle luxury brand," said Mark Badgley. "We are excited to manage our core product categories in-house and focus on the luxury aspect in both product and image."
"We intend to capitalize on the strength of our women's Couture and RTW collections, and especially the success of the shoe collections, to further this partnership with Titan, a company with tremendous expertise in the luxury market," James Mischka continued. "The core values of Badgley Mischka have always been luxury and timeless glamour; buying the brand back in this partnership will provide the basis to develop these attributes in a modern and exciting manner."
Mark Badgley and James Mischka founded MJCLK LLC with Christine Currence, Lara Piropato and Kimberly Lee-Siu in 2008 to be the apparel licensee for the Badgley Mischka brand. The company is responsible for the design, manufacturing, and distribution of Badgley Mischka Couture, Badgley Mischka Collection, and Belle Badgley Mischka worldwide.
Titan Industries, Inc., which purchased the Badgley Mischka IP with MJCLK LLC, currently holds the footwear licensing for Badgley Mischka, Charles Jourdan, LAMB by Gwen Stefani, Joe's Jeans and Daya by Zendaya. Joe Ouaknine founded the women’s fashion footwear company in 1998.
Badgley Mischka currently operates flagship boutiques in Beverly Hills, California and Palm Beach, Florida.
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