Iconix Brand Group Inc announced that Iconix China, its 50-50 joint venture with Novel Fashion Brands Limited ("Novel"), has partnered with Shanghai Doright Fashion Co. Ltd ("Doright") to develop the London Fog brand in Greater China.
Doright will begin distribution of London Fog men's and women's products for Fall 2009 in multiple cities throughout China. Doright plans to expand the London Fog brand into more than 180 London Fog shop-in-shop concepts and stores by the end of 2011.
This partnership marks the second deal for Iconix China. In December 2008, the Company signed its first agreement with Mecox Lane Limited for its Rampage brand.
Neil Cole, Chairman and CEO, Iconix and Silas Chou, Chairman, Novel, jointly commented, "We are excited about our progress in China and believe that by partnering with strong operating companies such as Doright for London Fog, we will be able grow and monetize Iconix's portfolio of brands in this region.
Our first deal, for our Rampage brand is off to a great start and we plan to open around 50 Rampage stores by the end of 2009 and up to 170 stores by the end of 2011. We believe this is just the beginning of a tremendous opportunity to grow our full portfolio in China."
Veronica Chou, President of Iconix China stated, "We are very confident about this partnership with Doright and believe that their solid experience and strong, established retail network will successfully develop and grow the London Fog brand in China."
Yong Li Zhang, CEO of Doright said, "London Fog is a widely recognized and highly regarded brand that we believe will be well received by the Chinese consumer. We are thrilled to have the opportunity to work with Iconix China and develop the London Fog brand for this market."
Doright, based in Shanghai, currently operates 590 plus retail stores throughout China in over 110 cities under multiple brands, including Santa Barbara Polo & Racquet Club, Hallmark, Jeep and doright.
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.
Doright will begin distribution of London Fog men's and women's products for Fall 2009 in multiple cities throughout China. Doright plans to expand the London Fog brand into more than 180 London Fog shop-in-shop concepts and stores by the end of 2011.
This partnership marks the second deal for Iconix China. In December 2008, the Company signed its first agreement with Mecox Lane Limited for its Rampage brand.
Neil Cole, Chairman and CEO, Iconix and Silas Chou, Chairman, Novel, jointly commented, "We are excited about our progress in China and believe that by partnering with strong operating companies such as Doright for London Fog, we will be able grow and monetize Iconix's portfolio of brands in this region.
Our first deal, for our Rampage brand is off to a great start and we plan to open around 50 Rampage stores by the end of 2009 and up to 170 stores by the end of 2011. We believe this is just the beginning of a tremendous opportunity to grow our full portfolio in China."
Veronica Chou, President of Iconix China stated, "We are very confident about this partnership with Doright and believe that their solid experience and strong, established retail network will successfully develop and grow the London Fog brand in China."
Yong Li Zhang, CEO of Doright said, "London Fog is a widely recognized and highly regarded brand that we believe will be well received by the Chinese consumer. We are thrilled to have the opportunity to work with Iconix China and develop the London Fog brand for this market."
Doright, based in Shanghai, currently operates 590 plus retail stores throughout China in over 110 cities under multiple brands, including Santa Barbara Polo & Racquet Club, Hallmark, Jeep and doright.
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.
