Iconix Brand Group has added to its portfolio with the acquisition of British denim label, Lee Cooper.
The firm said it paid $72 million in cash for the brand. Lee Cooper licences casual wear, footwear and accessories under its namesake brand – it is sold in over 80 countries and represents around $500 million in annual global sales.
It joins brands such as Ed Hardy, Candie’s and Rocawear in the Iconix stable, and the firm is hoping it will help to grow its international business.
Iconix has also raised its full year 2013 forecast – it now expects full year 2013 revenue of $425 milion to $435 million, up from its previous forecast of $415m to $425m.
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