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Sep 20, 2010
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Kenneth Cole in talks to be bought by Iconix

Sep 20, 2010

(Reuters) - Apparel and shoe company Kenneth Cole Productions (KCP.N) is in talks to be acquired by Iconix Brand Group (ICON.O), according to a Bloomberg report.

Iconix Brand Group, Kenneth Cole

The timing of a takeover was unclear and discussions were private, Bloomberg reported on Friday, citing "two people with knowledge of the matter."

Iconix owns and licenses brands, including Candies, Joe Boxer and Badgley Mischka. It sells those brands to Target Corp (TGT.N), Wal-Mart Stores Inc (WMT.N) and Kohl's Corp (KSS.N).

Iconix is led by Chief Executive Neil Cole, brother of the clothing designer Kenneth Cole, who has been chairman of Kenneth Cole Productions since the company's inception in 1982.

A spokesperson for Kenneth Cole did not immediately respond to a telephone request for comment. An Iconix spokesperson did not immediately return phone and e-mail messages requesting comment.

Shares of Kenneth Cole closed up $2.13 at $16.59 on Friday on the New York Stock Exchange.

Shares of Iconix closed up 7 cents at $17.04 on Friday on Nasdaq.

(Reporting by Kyle Peterson)

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