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Wednesday, February 20, 2013

Iconix buys Lee Cooper brand to grow international business, (NASDAQ: ICON)

Iconix Brand Group Inc, which licenses shoe and clothing brands to retailers and manufacturers, said it has acquired British denim label Lee Cooper to boost its international presence.The company, owner of brands such as Ed Hardy, Rocawear and Candie's, said it paid $72 million in cash for the brand.The company has also attempted to grow international sales over the last four years through a series of joint ventures in China, India, Europe and Latin America.In August 2011 Iconix bought the global rights to the Ed Hardy brand in a deal that raised its stake in the label to 85 percent.

Iconix Brand Group, Inc. (Iconix) is a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of consumer brands. Shares of ICON remained unchanged at $24.54. In the past year, the shares have traded as low as $14.27 and as high as $24.92. On average, 567552 shares of ICON exchange hands on a given day and today's volume is recorded at 0.