HILCO CONSUMER-RETAIL GROUP TO MANAGE SALT LIFE RETAIL STORE CLOSING SALES AND DISTRIBUTION CENTER INVENTORY WHOLESALE PROCESS

NORTHBROOK, Ill., Sept. 24, 2024 /PRNewswire/ -- Brand management company Iconix International Inc., in partnership with the Hilco Consumer-Retail Group (Hilco), trusted retail partner, capital provider and global leader of retail services, acquired the popular active lifestyle brand, Salt Life. The purchase, made through a competitive bankruptcy auction, includes the brand and its related assets. Hilco will support Iconix in transitioning the Salt Life brand towards a stronger focus on wholesale and e-commerce business model. The Salt Life brand has widespread brand awareness and loyalty with ocean enthusiasts worldwide.

An organized wind-down of many operational functions will take place over the course of the next few months to aid in the transition, including the closure of the Salt Life retail locations and the sale of inventory from distribution centers. On September 20, 2024, liquidation sales began in twenty-eight stores across ten states. These liquidation sales are being managed by Hilco and offer unprecedented discounts on all Salt Life branded merchandise throughout the stores. Savings of up to 40% are being offered on Salt Life favorites including tees, shorts, performance clothing, hoodies, tumblers and so much more. Customers are encouraged to take advantage of these significant savings immediately while selections are best. Store fixtures and equipment are also for sale and at discounted prices. Gift cards will be accepted for the first 30 days of the sale and will stop being accepted on October 20, 2024. Returns for merchandise purchased prior to September 20th, 2024, will also be accepted for the first 30 days of the sale, in accordance with the company's current policies, ending on October 20, 2024. All sales made on or after September 20, 2024, are final.

Additionally, the Hilco Consumer Retail Group will oversee the sale of inventory from distribution centers through a streamlined wholesale process. Retailers looking to restock their Salt Life inventory or those interested in introducing the brand to their offerings are encouraged to contact Tara Messler – [email protected]

ABOUT SALT LIFE
Founded in 2003 in Jacksonville Beach, FL, Salt Life began as a simple graphic decal and has since evolved into a global brand that embodies a deep passion for the ocean and saltwater sports. From offshore fishing and surfing to diving and paddleboarding, Salt Life's apparel and gear are designed to withstand the harsh conditions of the sea while effortlessly combining function with fashion. Committed to ocean conservation, the brand's "Gives Back" initiative supports efforts to protect marine environments, ensuring that future generations can continue to enjoy the Salt Life. The brand remains dedicated to providing everything needed for a lifetime of adventures by the water.

ABOUT HILCO CONSUMER-RETAIL
Hilco Consumer – Retail is a trusted partner that delivers a wide range of analytical, advisory, asset monetization, and capital investment solutions to help define and execute non-core strategic initiatives for our retail and consumer goods clients around the world. Leveraging knowledge gained over more than three decades, Hilco Consumer-Retail's activities fall into several principal categories including Virtual Store Management Technology, Capital Solutions, Inventory Solutions, Fixtures, Furniture and Equipment Monetization and M&A Facilitation. Hilco Consumer-Retail (https://hilcoglobal.com/companies/hilco-consumer-retail/) is part of Northbrook, Illinois based Hilco Global. As a Hilco Global company (https://hilcoglobal.com/companies), the solutions Hilco Consumer-Retail Group provides also extend to broader, holistic packages encompassing Real Estate, Intellectual Property, and other asset classes.

SOURCE Hilco Consumer-Retail