NEW YORK, March 10 /PRNewswire-FirstCall/ -- MG ICON, the newly formed joint venture between Madonna and Iconix Brand Group, Inc., (Nasdaq: ICON) announced its first direct-to-retail license agreement with Macy's, Inc. for the "Material Girl" collection. "Material Girl" is a newly created, fast-fashion junior collection that will launch exclusively in approximately 200 Macy's stores and online at www.macys.com in August 2010 for the back-to-school season.
As part of the direct-to-retail agreement, Macy's will have the opportunity to launch additional brands with MG Icon in the future.
The "Material Girl" collection was inspired and designed in collaboration with Madonna and her daughter Lourdes, along with Iconix Brand Group's in-house fashion department. In addition to the back-to-school apparel collection, "Material Girl" will also launch in multiple categories including footwear, handbags and jewelry. The collection will retail from $12.00 to $40.00, comparative with pricing strategies at junior specialty stores. The strategy for growth will include additional categories in the lifestyle and beauty sectors, including fragrance, beginning 2011 as well as a rollout into additional Macy's stores.
Neil Cole, CEO and Chairman, Iconix, stated, "We are excited to announce the first in a series of new brands that will be developed under our partnership with Madonna. 'Material Girl' has a powerful retail partner in Macy's and we look forward to working together to deliver an innovative launch for our consumers."
"We believe that 'Material Girl' will be a dynamic exclusive brand for Macy's, and we look forward to working with Madonna, Lourdes and the Iconix team. Madonna is a fashion icon who can bring a new dimension to our juniors customer," said Jeff Gennette, Macy's chief merchandising officer. "'Material Girl' will enhance the excitement of fast fashion at Macy's."
About Iconix Brand Group, Inc.
Iconix Brand Group Inc. (Nasdaq: ICON) owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO (R) OCEAN PACIFIC(R), DANSKIN (R) ROCA WEAR(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R), ED HARDY (R), ECKO (R), MARC ECKO (R) and ZOO YORK (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity.
About Macy's, Inc.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2009 sales of $23.5 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
Madonna, a multi-Grammy winning artist, cultural icon, Rock and Roll Hall of Fame inductee, director, producer, documentarian, children's book author, video visionary and humanitarian has sold over 200 million albums in the course of her unparalleled career in the entertainment business. Her recent "Sticky and Sweet" Tour was the most successful concert tour by a solo artist in history.
SOURCE Iconix Brand Group, Inc.