The US brand management group Iconix International Inc. has secured a majority stake in the British streetwear brand Hoodrich. Founder Jay Williams will continue to hold a minority stake in the label, the company announced on Monday. Financial details of the transaction were not disclosed.
The aim of the partnership is to drive Hoodrich’s global expansion, explained Iconix. In this context, the British textile group Batra Group will take over the brand’s operational business activities in the future. The JD Sports retail chain will therefore act as a global retail partner.
The label, which was founded in Birmingham in 2014, will be able to build on Iconix’s proven strengths in product range expansion and global expansion as well as its worldwide network of licensing partners in the future, it said in a statement. The intention is now to open up new product categories and markets for the brand.
Iconix already holds the trademark rights of well-known labels such as Umbro, Pony, Buffalo and Lee Cooper. The production and marketing of their products takes place through collaboration with licensing partners. The company, formerly known as Iconix Brand Group Inc., was acquired by financial investor Lancer Capital LLC in 2021 and delisted from the stock exchange.