LONDON — Iconix Worldwide, previously Iconix Model Group Inc., on Monday mentioned it’ll purchase the bulk possession of the Birmingham- and Watford-based streetwear model Hoodrich, with model founder Jay Williams remaining a minority shareholder.
Since 2014 Hoodrich has grown to change into a number one participant within the streetwear sector with greater than 1,000 factors of sale throughout 24 nations. Final yr, with its collaboration with the hit Netflix sequence “High Boy,” Hoodrich reached a wider viewers past the British excessive road scene.
With the assist of Iconix Worldwide, the model is trying to speed up its world growth. The goal is to make use of its shut partnership with Batra Group, which can assume enterprise operations, and JD Sports activities as a key world retail accomplice.
Within the close to future the model will proceed to broaden within the U.S. throughout all 50 states, in addition to enter the Center East and Latin America with JD Sports activities and native companions. On the identical time, it will likely be working with retailers on deepening the ladies’s assortment and equipment to enhance the boys’s lineup.
The model is gearing as much as have fun its tenth anniversary subsequent yr. Count on extra cultural collaborations prefer it did with “High Boy.” A number of cross-pollinations with different manufacturers owned by Iconix Worldwide are underneath dialogue as effectively.
“I’m actually enthusiastic about the way forward for Hoodrich and may’t wait to develop the model internationally. I feel that is the proper partnership for Hoodrich and I’m trying ahead to working alongside Iconix and Batra, who shall be a significant assist system for the worldwide progress of the model,” mentioned Williams of the acquisition.
Bob Galvin, chief government officer at Iconix Worldwide, believes that Hoodrich is “extraordinarily well-positioned to capitalize on the rising demand for way of life streetwear with an genuine model story.”
“We’re dedicated to bringing this high-quality model to a fair larger world viewers and to broaden on Williams’ commendable journey in order that Hoodrich continues to be not simply one thing, however one thing nice,” he added.
Iconix is a model administration firm that owns, licenses, and markets shopper manufacturers like Umbro, Pony, Ocean Pacific, and Lee Cooper in its portfolio. It was taken non-public by Lancer Capital in 2021.