Iconix Brand Group Inc announced the planned acquisition of the London Fog brand from London Fog Group Inc, subject to certain closing conditions including final approval from Nevada state bankruptcy court. The acquisition is scheduled to close on August 28, 2006.
Founded in the 1920s, London Fog is an internationally recognized brand of men's, women's and children's outerwear, apparel, accessories, luggage and travel products. According to a 2006 Women's Wear Daily study, London Fog ranked as the No. 1 most recognized brand of outerwear in the United States.
The Company has also announced that it will enter into a license agreement with leading outerwear maker Herman Kay Bromley.
Herman Kay Bromley will hold the license for men's and women's outerwear and women's suits in the United States.
The Company is currently evaluating numerous additional domestic and international licensing opportunities and will announce a more expanded licensing program shortly.
According to Neil Cole, Chairman and CEO of Iconix Brand Group, "London Fog is an iconic name with a long and rich heritage and extremely high brand awareness.It will greatly diversify our portfolio by adding a classic brand that appeals to a broad segment of consumers in the U.S. and around the world."
"We are thrilled to have Herman Kay Bromley as the anchor licensee of what will quickly become a large and diverse licensing program as we expand London Fog into a broader lifestyle brand."
marketing@alchempro.com
