White & Case Represents Iconix in its Expansion into China

New York, September 22, 2008 ... Global law firm White & Case LLP represented Iconix Brand Group Inc. (Nasdaq: ICON) in a joint venture to further develop its portfolio of brands in the fast-growing Chinese market. Iconix, which owns such famous consumer brands as CANDIE'S®, BONGO®, JOE BOXER®, ROCA WEAR® and BADGLEY MISCHKA®, formed a strategic alliance with Novel Fashion Holdings Limited, a Hong Kong-based company controlled by Silas Chou, known in the fashion world for his role in successfully developing the businesses of Tommy Hilfiger and Michael Kors.

The joint venture, called Iconix China, will be based in Hong Kong. Unlike Iconix's US business, the new company will not be tied strictly to a licensing model — instead, transactions will be based on Iconix China selling brand rights in exchange for equity in local Chinese companies.

"With US retail businesses looking to grow despite decreases in consumer spending in a volatile market, we think this joint venture is a harbinger of retail deals to come in Asia," said Nazim Zilkha, partner in White & Case's Capital Markets Practice in New York.

Daren Orzechowski, partner in the Firm's New York Intellectual Property Practice, added: "Iconix has taken its popular trademarks and instantly expanded its business in Asia by leveraging its joint venture with an experienced partner in the region. More US-based trademark owners, particularly in the retail products markets, may soon follow this trend in an effort to capitalize on the value of their brands."  

Iconix China will be launched with a $20 million investment by Novel and $5 million by Iconix, which will also contribute substantially all rights to its brands in China, Hong Kong, Taiwan and Macao. Iconix China will also manage royalties from brands that already have been licensed out by Iconix in the region, including OCEAN PACIFIC®, LONDON FOG®, CANNON® and ROYAL VELVET®.

"Not only did this deal bring into play a number of different White & Case practices, including IP, corporate and tax law, but it also leveraged our international network of offices in Los Angeles, Washington, DC, New York, Tokyo, Hong Kong and Shanghai," stated Zilkha. "As clients continue to expand internationally, our global platform gives them a distinct advantage, as it allows them to draw on integrated legal advisory services spanning a broad range of practices in virtually every corner of the world."

In addition to Zilkha and Orzechowski, the White & Case team advising Iconix comprised New York partners Andrew Oringer and Kenneth Raskin and counsel Randall McGeorge (Executive Compensation and Benefits) and associates Catherine Gratton and Gabe Stern (IP), Laura Chang (Bank Finance), and Olga Bogush (Tax); Los Angeles associate Stacy Rentner (M&A); Washington, DC, partner Bruce Davis (Tax); Tokyo partner Eric Roose (Executive Compensation and Employee Benefits) and counsel Linda Ng (Tax); Hong Kong local partner Jeremy Leifer (Capital Markets) and partner Kim Rooney (Arbitration) and associates Betty Chan, Marco Lam (Litigation) and Karen Sin (M&A) and legal assistant Patricia Lee; Beijing senior tax consultant Jiang Bian (Tax); and Shanghai partner John Leary (Bank Finance) and associate Patrick Ma (IP).

About White & Case
White & Case LLP is a leading global law firm with more than 2,300 lawyers in 37 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

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