Iconix Brand Group has purchased the remaining 49 percent minority interest in IP Holdings Unltd., owner of the Ecko Unltd. and Marc Ecko Cut & Sew brands.
Iconix paid $45 million in cash for the remaining equity in IPHU, of which it already owned the majority 51 percent interest.
Marc Ecko Enterprises will continue in its role as the core apparel licensee for the brands.
"We believe there is a strong growth opportunity in the youth culture market around the world and are thrilled to increase our equity in the Ecko Unltd. and Cut & Sew brands,” says Neil Cole, chief executive officer, Iconix Brand Group. “We look forward to continuing to work with our licensees as well as the MEE team to further expand the businesses."
Founded in 1993, the Ecko Unltd. lifestyle brand is currently sold in more than 5,000 stores in 60 countries and has approximately 100 standalone retail stores.
Launched in 2004, the Marc Ecko Cut & Sew men’s line is available at department stores such as Dillard's, Macy's with a product assortment that includes apparel, eyewear and footwear.