Iconix plans Candie's stores in China
Jennifer Negley -- Home Textiles Today, June 23, 2010
New York - Iconix Brand Group, owner of several home brands, and its joint venture partner in China plan to open free-standing Candie's stores there.
Iconix China Limited, owned 50-50 by Iconix and Novel Fashion Brands, are working with Shanghai La Chapelle Carment and Accessories Co. Lt. and private equity group Trust Bridge Partners on the store project.
The first Candie's store will open this August in Shanghai, to be followed by 50 more openings before the end of the year. Markets will include Beijing and Chongjing, according to Iconix.
Over five years, the JV plans to open more than 500 Candie's units in China.
"We are extremely pleased with the early progress of our current partnerships in China for Rampage, London Fog, Rocawear and Badgley Mischka, and excited about our new business with Candie's and the well established business of Peanuts in the region," stated Neil Cole, ceo, Iconix Brand Group.
Peanuts, which Iconix recently acquired, through Iconix China operates 700 Snoopy Stores, Charlie Brown Cafes and Snoopy Bakeries in China. Over the next three years, Iconix Brand Group hopes to open up to 5,000 stores or shop-in-shops in the country.
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