JCPenney takes Royal Velvet as an exclusive
October 25, 2011,
New York -- Iconix Brand Group has entered into a multi-year license agreement with JCPenney Company for its Royal Velvet brand across a variety of soft home categories.
The initial Royal Velvet at JCPenney program will consist of sheets, fashion bedding, blankets, pillows, towels, rugs, bath coordinates and window treatments. It is set to debut in spring 2012 in all JCPenney stores and online at jcp.com.
The launch will be supported with a multi-media marketing campaign that will encompass print, digital, outdoor and in-store collaterals.
"JCPenney is recognized by consumers as the go-to destination for home goods and this is an immense opportunity for Royal Velvet," commented Neil Cole, Iconix ceo. "We are thrilled to be working with JCPenney on our Royal Velvet brand as we share the same vision and recognize the growth potential for this iconic brand."
Added John Tighe, svp, and gmm of home, JCP: "As a well-known quality brand, Royal Velvet will be a great addition to JCPenney's exciting home brands and assortment."
Iconix has owned Royal Velvet as well as its sister brands, Cannon, Fieldcrest and Charisma, since fall 2007 when it acquired Official Pillowtex.
The Royal Velvet brand - once a department store powerhouse - first made its way back into the retail market after Pillowtex's liquidation as an exclusive at Kohl's that never migrated much past the towel department. The brand migrated to the bath department at Bed Bath & Beyond, which sells multiple product categories of Royal Velvet on its ecommerce site.
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