Iconix Brand Group Inc. is expanding its portfolio.
The New York-based firm acquired lifestyle brand Lee Cooper for $72 million in cash through subsidiary Iconix Luxembourg Holdings Sarl.
“We are excited to add another truly global brand to our portfolio and expect, with the addition of Lee Cooper, our international business to represent approximately 33 percent of our overall business in 2013,” Iconix CEO Neil Cole said in a written statement. “With Lee Cooper’s portfolio of international licensees, we look forward to leveraging these new relationships to further grow our worldwide footprint.”
Lee Cooper is a British lifestyle label that started in 1908. It is also a licensing business with 35 international licensees that include Landmark in the Middle East and Future Group in India. The brand is sold in more than 80 countries, predominantly in Europe, Asia and the Middle East, and has annual global retail sales of roughly $500 million.