June 24, 2010 (FinancialWire) — Iconix Brand Group, Inc. (NASDAQ: ICON) said that Iconix China Ltd., its 50-50 joint venture with Novel Fashion Brands Ltd., has partnered with Shanghai La Chapelle Garment and Accessories Co., Ltd. and private equity group Trust Bridge Partners to open free standing specialty and franchise Candie's stores throughout Greater China. 

When combined with the company's newly acquired Peanuts brand, Iconix's total presence among all of its brands in Greater China is projected to grow to around 1,700 stores and over 3,300 other points-of-sale in the next three years.

The first free standing Candie's specialty store will open August 2010 in Shanghai. By the end of this year, La Chapelle is projecting a total of 50 Candie's stores to open in Shanghai, Beijing, Chongjing, and other first-tier cities. The long-term growth plan is to open over 500 Candie's free-standing stores across China over five years.

Outside of the Iconix China business, the Peanuts business in Greater China already has a presence throughout China through around 700 Snoopy Stores, Charlie Brown Cafes, Snoopy Bakeries and 3,300 other points-of-sale.

Iconix China, which was formed in September 2008 and based in Hong Kong, was established to develop and expand the Iconix portfolio of brands in Greater China.

To date, Iconix China portfolio consists of the Rampage by Mecox Lane Limited, London Fog by Shanghai Doright Fashion Co., Rocawear by Bosideng International Holdings, Badgley Mischka by Eve NY and Candie's by Shanghai La Chapelle Garment & Accessories Co., Ltd. brands.

The Peanuts business operates separately through a consortium of direct licensees with Iconix Brand Group, Inc.

New York-based Iconix Brand owns, licenses and markets a portfolio of consumer brands including Candie’s, Joe Boxer, Danskin, London Fog and others.

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