Scion LLC, a joint venture between Iconix Brand Group Inc. and Shawn “Jay-Z” Carter, has acquired the brand Artful Dodger from Sovereign State LLC. The purchase price for the brand was approximately $15 million, paid in cash by Scion. Artful Dodger is an exclusive, high-end apparel brand sold in boutiques and specialty stores such as Harvey Nichols in the UK and at specialty stores and boutiques in the United States.
In connection with this acquisition, Scion has entered into a multiyear exclusive license with Signature Apparel Group for Artful Dodger men’s and women’s sportswear. Scott Langton, Artful Dodger’s founder, creative director, and head designer, will join Signature Apparel Group in this capacity. In addition, Scion is currently evaluating a number of licensees beyond the core sportswear license including footwear and outerwear to transition Artful Dodger into a lifestyle brand.