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Badgley Mischka buys trademark rights from Iconix

By Kristopher Fraser

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Business

New York - Design duo and power couple James Badgley and Mark Mischka, along with their business partner Titan Industries Inc. have announced that they have bought the rights to the Badgley Mischka trademark for 16 million dollars in cash.

Apparel licensee MJCLK LLC is also a partner. Previously, the rights to Badgley Mischka's trademark was owned by Iconix Brand Group, while Titan was a long time partner on the footwear license.

“We have had a productive 11 years working with the Iconix team to build Badgley Mischka from its red carpet origins to a full lifestyle luxury brand,” said Badgley to Footwear News. “We are excited to manage our core product categories in-house and focus on the luxury aspect in both product and image.”

According to Mischka, the brand will continue to capitalize on the success of their couture and ready-to-wear collections, especially their shoes. He went on to tell Footwear news that buying the brand back in this partnership will provide the basis to develop Badgley Mischka's core values of timelessness and luxury in a modern and exciting manor.

Badgley Mischka trademark purchased from Iconix for 16 million dollars

Titan hinted that Badgley Mischka has plans to begin launching future categories. Home is seen as a potential category for the brand, and they also plan on beefing up their footwear offerings.

While the future is looking up for Badgley Mischka, things are not so bright for Iconix. Last month, they tapped retail industry veteran John Haugh to be the CEO of their company in the wake of the abrupt departure of their former CEO Neil Cole, who left the company in August 2015 when the U.S. Securities and Exchange Commission began probing Iconix to restate their earnings from the past several years.

In January, musician Pharrell Williams also purchased the 50 percent stake in his BBC Ice Cream LLC business back from Iconix, perhaps to distance himself from the financial controversies surrounding the company.

The fate of Iconix is up in the air, and their most promising companies are walking away still poised for success. If Iconix doesn't act fast, this could spell trouble for them.

photo:badgleymischka.com

Badgley Mischka
Iconix Brand Group