298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Feb 4, 2013
Reading time
2 minutes
Download
Download the article
Print
Text size

Iconix bolsters upscale market offering with Buffalo JV

By
Reuters
Published
Feb 4, 2013

Iconix Brand Group Inc, known for its apparel labels such as Candie's and Starter, acquired control of the Buffalo David Bitton brand to expand into higher-end brands.

Iconix said it paid Buffalo International ULC $76.5 million in cash for a 51 percent stake in the brand.

Buffalo David Bitton

"This diversifies them up the chain a little bit... their exposure to the lower-end brands has been disproportionate and (Buffalo) is certainly not a lower-end brand," C.L. King & Associates analyst Steven Marotta said.

Under the Buffalo David Bitton brand, the company sells denim, sportswear, activewear and accessories at upscale department stores such as Macy's Inc and Lord & Taylor.

Iconix owns or licenses dozens of brands that are sold at retail stores such as Wal-Mart Stores Inc and Sears Holding Corp.

"The company is going to drive earnings higher as it puts the balance sheet to work through a combination of acquisitions and stock repurchases. Today's news reinforced that," Monness, Crespi, Hardt, & Co Inc analyst Jim Chartier said.

Iconix bought the Umbro sneaker brand from Nike Inc for $225 million last October and the worldwide license for the Ed Hardy brand in April 2011.

The company said it raised its full-year revenue and earnings per share forecast to reflect the Buffalo deal and share repurchases. It now expects to earn between $2.00 and $2.10 per share, up from $1.85 to $1.95 per share.

Iconix expects revenue of between $415 million and $425 million, up from $395 million to $405 million.

Analysts on average were looking for full-year profit of $1.92 per share, on revenue of $399.62 million, according to Thomson Reuters I/B/E/S.

Shares of the company, which has a market valuation of about $1.65 billion, were down slightly at $23.99 on Monday morning on the Nasdaq.

© Thomson Reuters 2024 All rights reserved.