Iconix Brand Group has invested $25 million in Complex Media, a multi-platform lifestyle brand geared toward millennial men.
Complex Media was co-founded by Mark Echo, who is a partner in Iconix, which owns the Ecko Unlimited and Marc Ecko Cut & Sew brands.
As part of the investment arrangement Iconix chief executive officer Neil Cole will join the Complex Media board.
"The Complex Media model is at the forefront of the digital revolution. Under the leadership of Rich Antoniello, the destination has become an incredibly effective platform for brands to intimately connect with their target audience,” says Cole. “Given Iconix's diverse portfolio of men's brands, this platform is a powerful asset for us as we shift our marketing strategies to be more digitally focused and presents a unique opportunity to further engage with our core consumer. Marc Ecko, co-founder of Complex Media and a partner of Iconix Brand Group, is a true visionary and early adopter of the notion that brands need to think like publishers."
Complex Media plans to use the infusion of capital to accelerate its growth strategy that includes plans for an e-commerce platform.
"The investment from Iconix Brand Group is transformative and will allow us to accelerate our already rapid growth while making key investments that will diversify our revenue base," says Rich Antoniello, chief executive officer, Complex Media. "We're particularly focused on launching an e-commerce offering and scaling our video production and distribution capabilities, with a goal of reaching 1 billion video views in 2014. We're also planning to speed the expansion of our branded content, mobile and social media teams. In addition, the funding will enable us to be more aggressive in making strategic acquisitions."