NEW YORK — Delia’s Corp. continues to execute the teen retailing business model in reverse.
Late Monday, the company said it had entered the world of wholesaling through a licensing agreement with JLP Daisy LLC, an affiliate of Schottenstein Stores Corp. Daisy, as the master licensee, will in turn advance Delia’s $16.5 million in sorely needed cash against future royalties. Once JLP Daisy recoups the advance plus an unspecified preferred return as sublicensees begin to generate revenue, Delia’s will receive a majority of the royalty stream after brand management fees are subtracted. Group 3 Design Corp. has been retained to manage Delia’s new licensing activities.
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