Iconix Brand Group Inc. racked up a roughly $6 million pretax gain when China Outfitters Holdings Ltd., which sells the London Fog brand in the country, went public in Hong Kong.
The “monetization” is just the first of what Iconix hopes will be a string of cash infusions as it sells off its brands in China, which are held in Iconix China, a venture set up with Silas Chou’s Novel Fashions Holdings. The group has retail partnerships for its Candies, Rampage, Badgley Mischka, Rocawear and Royal Velvet brands in the country, businesses that could ultimately be spun off.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"