The owner of Tommy Hilfiger and Calvin Klein has revealed that it is closing its heritage brands retail business as part of efforts to streamline its operations in North America in the wake of the Covid-19 pandemic.
The US brand’s relationship with the Royer group, its distribution partner in France, Germany and Benelux since 2011, will terminate at the end of 2020, when New Balance will take over European operations directly.
Following its announcement of the sale of Umbro China, New York-based brand management company Iconix’s Chinese subsidiary revealed on Thursday that it has also signed a deal to sell the Starter China business.
The New York-based owner of brands including Umbro, Lee Cooper and Ecko Unltd. announced a net loss of $21.5 million for the first quarter on Tuesday, down from income of $17.9 million in the prior-year period.
The New York-based brand management company announced a net loss of $95.0 million in the fourth quarter on Monday, widening from the loss of $69.1 million reported by the group in the same period in the previous year.
The sportswear brand has added Italy to its list of online markets, just in time to serve customers during the lockdown. Social media manager Marina Amoruso said Italy is a key market for the company's future success.
Iconix is continuing to support its British football-linked brand Umbro and said this week that it has extended its longstanding license deal for the label to cover footballing countries Brazil, Argentina and Paraguay.