Candie's Inc. to Change Company Name to Iconix Brand Group, Inc.; Name Change to Reflect Multi-Brand Management Platform.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Candie's, Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CAND) (the "Company") announced today that effective July 1st it will change its corporate name to Iconix Brand Group Iconix Brand Group is a brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sears, Macy's, Mervyn's and JC Penney. , Inc. ("Iconix") and will trade on the NASDAQ stock exchange under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ICON. The name change represents the final step of the transformation of the Company's business from an operating footwear and apparel company to a brand management business. Iconix today owns three brands, Candie's(R), Bongo(R) and Badgley Mischka Badgley Mischka is an American fashion label designed by Mark Badgley and James Mischka. Badgley & Mischka met at Parsons and found a common vision. The two launched the label Badgley Mischka in 1988, though their bridal business launched in 1993. (R) and has licensed them in a broad variety of categories to retailers, wholesalers and distributors worldwide. Neil Cole, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Iconix, stated, "The word Iconix symbolizes our goal of owning a strong and diversified portfolio of many leading brands. Our new business model is aligned with the expertise of our management team and optimizes shareholder value by minimizing the risks associated with operating a fashion company in today's retail environment." Cole added, "The proliferation of low cost overseas manufacturing and retail consolidation is changing the traditional supply chain model. Our goal is to create strategic alliances with retailers and suppliers worldwide and add value to this network through our expertise in marketing and merchandising. We are excited to have fully transitioned our business to the brand management model with an infrastructure in place to easily integrate new brands into our unique platform." The Company's name change will become official on July 1st, 2005, with the Company switching NASDAQ ticker symbols from CAND to ICON on the same day. A new corporate website with information on the Company and its brands will launch at www.iconixbrand.com. About Candie's, Inc. Candie's, Inc. is in the business of licensing the CANDIE'S(R), BONGO(R) and BADGLEY MISCHKA(R) trademarks to retailers and manufacturers worldwide. Through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Brightstar Footwear, Inc., the Company also arranges for the manufacture of footwear products for mass market and discount retailers under the private label brand of the retailer. For investor information please visit the corporate web site at http://www.candiesinc.com. |
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