LONDON — Iconix International, formerly Iconix Brand Group Inc., on Monday said it will acquire the majority ownership of the Birmingham- and Watford-based streetwear brand Hoodrich, with brand founder Jay Williams remaining a minority shareholder.
Since 2014 Hoodrich has grown to become a leading player in the streetwear sector with more than 1,000 points of sale across 24 countries. Last year, with its collaboration with the hit Netflix series “Top Boy,” Hoodrich reached a wider audience beyond the British high street scene.
With the support of Iconix International, the brand is looking to accelerate its global expansion. The aim is to use its close partnership with Batra Group, which will assume business operations, and JD Sports as a key global retail partner.
In the near future the brand will continue to expand in the U.S. across all 50 states, as well as enter the Middle East and Latin America with JD Sports and local partners. At the same time, it will be working with retailers on deepening the women’s collection and accessories to complement the men’s lineup.
The brand is gearing up to celebrate its 10th anniversary next year. Expect more cultural collaborations like it did with “Top Boy.” Several cross-pollinations with other brands owned by Iconix International are under discussion as well.
“I’m really excited about the future of Hoodrich and can’t wait to grow the brand internationally. I think this is the perfect partnership for Hoodrich and I’m looking forward to working alongside Iconix and Batra, who will be a major support system for the global growth of the brand,” said Williams of the acquisition.
Bob Galvin, chief executive officer at Iconix International, believes that Hoodrich is “extremely well-positioned to capitalize on the growing demand for lifestyle streetwear with an authentic brand story.”
“We are committed to bringing this high-quality brand to an even bigger global audience and to expand on Williams’ commendable journey so that Hoodrich continues to be not just something, but something great,” he added.
Iconix is a brand management company that owns, licenses, and markets consumer brands like Umbro, Pony, Ocean Pacific, and Lee Cooper in its portfolio. It was taken private by Lancer Capital in 2021.