Ed Hardy Joins Forces With Iconix Group

Article written by: Asmara Wreksono
Posted on: May 6, 2009

Tattoo-themed streetwear brand, Ed Hardy, sold 50% of its interest to Iconix, a New York-based company that owns several apparel labels including Rocawear, Joe Boxer and Badgley Mischka.

Iconix paid $17 million for its interest in Hardy Way, LLC., comprised of $9 million in cash and $8 million in stock.  As an addition, the sellers could be entitled to receive an additional $1 million in stock pursuant to an earn-out based on 2009 royalties received by Hardy Way.  An optimistic Hardy Way estimates that the 2009 royalty revenue will reach $10 million.

Neil Cole, Chairman and CEO, Iconix stated:

“We are excited to have the opportunity to participate in the continued success of the Ed Hardy brand and believe there are tremendous growth opportunities worldwide.  We also believe that by owning the brand alongside Don Ed Hardy, the founder, there will be opportunities to further leverage his iconic name along with his new artwork.”

Cole also told the New York Post that the consumers are coming back.  “This is going to be the first of a couple more acquisition opportunities.” Cole also stated that Ed Hardy is not a fad, as it has become a lifestyle.

The one responsible for turning a design theme into a way of life is none other than fashion visionary, owner of Nervous Tattoo, Christian Audigier. He got the license of the Ed Hardy name from Don Ed Hardy in 2003 and created a worldwide craze.  A-list celebs such as Kanye West, Paris Hilton and Britney Spears are often seen sporting the brand’s iconic tees and hats.

Don Ed Hardy, a modern tattoo artist a.k.a. the man behind the brand’s name, commented on the collaboration:

“As demand for my artwork continues to skyrocket, I felt it was time to take on a partner that could help me manage the demand and opportunities for the Ed Hardy name. Iconix is at the forefront of brand management and clearly has the capabilities to dramatically grow the Ed Hardy business. I’m thrilled to have them as a partner.”

Don Ed Hardy started tattooing in 1967 and is known as “the godfather of modern tattoo” for his sophistication, depth and sense of experimentation. Today Ed Hardy is a global consumer products brand sold in over 55 countries and 50 different categories including streetwear, swimwear, fragrances, energy drinks, home goods and handbags.