The strategic move is in collaboration with Hoodrich founder Jay Williams, who will retain an ownership interest in the brand.
The partnership between Iconix and Jay Williams is grounded in a shared vision for the brand’s accelerated global growth. Both entities are keen to propel the brand to new heights. As part of this acquisition, Iconix is set to collaborate closely with Batra Group, which will oversee business operations, and JD Sports, a key global retail partner.
Iconix’s expertise in category extension and global expansion, coupled with decades of experience in international brand management, positions the company as an ideal partner for Hoodrich’s next phase of growth.
Leveraging its extensive network of licensees, Iconix aims to introduce Hoodrich to new markets and product categories while maintaining the brand’s headquarters in Birmingham and Watford.
Bob Galvin, CEO of Iconix International Inc. said: “The brand is extremely well-positioned to capitalise 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 Jay’s commendable journey so that Hoodrich continues to be not just something, but something great.”
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Hoodrich, a claimed favourite among celebrities, has positioned itself as a lifestyle streetwear brand, with a strong presence in over 1000 retail outlets across 24 countries and a strong direct-to-consumer e-commerce business.
Hoodrich began back in 2014 when Jay Williams launched the brand in Birmingham, UK, selling his first thirty t-shirts from the trunk of his car. The brand’s tagline, “From Nothing to Something,” encapsulates both Jay’s personal journey and the brand’s humble beginnings.
Hoodrich quickly gained traction, securing partnerships with major retailers like Foot Asylum and JD Sports. In 2022, Netflix approached the brand to collaborate on an exclusive collection with Top Boy.
Jay Williams designed Hoodrich as a blend of his passions—rap music, streetwear, and urban culture. The brand’s clothing and accessories are distinguished by bold branding and high-quality fabrics.
Williams commented: “I 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.
The all-cash transaction was first announced on 14 June 2021 and represented the culmination of a year-long examination by Iconix’s board of directors of strategic alternatives for the company.