Iconix Brand Group Inc announced that Iconix China Limited ("Iconix China"), its 50-50 joint venture with Novel Fashion Brands Limited ("Novel"), has partnered with Mecox Lane Limited ("Mecox") to develop the Rampage brand in Greater China.
Rampage expects to open in excess of 50 free-standing retail stores, beginning in Spring/Summer 2009 in multiple cities throughout China. In addition, Mecox plans on offering Rampage products through its catalog and e-commerce channels.
Mecox, established in 1996, has developed into one of the largest mail order companies in China. It offers a wide variety of products from apparel, jewelry, and cosmetics, to health supplements and home products in its catalogs. Sequoia China, a division of Sequoia Capital, the well-known Silicon Valley venture capital firm, owns a controlling position in Mecox.
Neil Cole, Chairman and CEO of Iconix, and Silas Chou, Chairman of Novel, jointly commented, "We are excited that Iconix China closed its first deal with Mecox and its investment partner Sequoia China. We believe this is the first of several deals that will be signed by Iconix China over the next year."
Veronica Chou, President of Iconix China stated, "We will continue to pair the Iconix portfolio of brands with the best Chinese operators and look for companies with strong financial partners such as Mecox and Sequoia China. The deal we announced today is an exciting step for Iconix China, but really just the beginning of a much greater opportunity as we capitalize on the rapidly developing middle class in China."
Alfred Gu, CEO of Mecox said, "Mecox is extremely privileged and excited to have this opportunity to work with Iconix China. The Chinese consumer market is ready and in need of a brand like Rampage. Rampage will make use of Mecox's unique strength of focusing on different platforms. We have high hopes for Rampage in China."
Iconix China, formed in September 2008 and based in Hong Kong, was established to develop and expand the Iconix portfolio of brands in Greater China. Novel is owned and led by Silas Chou and family.
Rampage expects to open in excess of 50 free-standing retail stores, beginning in Spring/Summer 2009 in multiple cities throughout China. In addition, Mecox plans on offering Rampage products through its catalog and e-commerce channels.
Mecox, established in 1996, has developed into one of the largest mail order companies in China. It offers a wide variety of products from apparel, jewelry, and cosmetics, to health supplements and home products in its catalogs. Sequoia China, a division of Sequoia Capital, the well-known Silicon Valley venture capital firm, owns a controlling position in Mecox.
Neil Cole, Chairman and CEO of Iconix, and Silas Chou, Chairman of Novel, jointly commented, "We are excited that Iconix China closed its first deal with Mecox and its investment partner Sequoia China. We believe this is the first of several deals that will be signed by Iconix China over the next year."
Veronica Chou, President of Iconix China stated, "We will continue to pair the Iconix portfolio of brands with the best Chinese operators and look for companies with strong financial partners such as Mecox and Sequoia China. The deal we announced today is an exciting step for Iconix China, but really just the beginning of a much greater opportunity as we capitalize on the rapidly developing middle class in China."
Alfred Gu, CEO of Mecox said, "Mecox is extremely privileged and excited to have this opportunity to work with Iconix China. The Chinese consumer market is ready and in need of a brand like Rampage. Rampage will make use of Mecox's unique strength of focusing on different platforms. We have high hopes for Rampage in China."
Iconix China, formed in September 2008 and based in Hong Kong, was established to develop and expand the Iconix portfolio of brands in Greater China. Novel is owned and led by Silas Chou and family.
