Elizabeth Arden signs licensing deal to launch Rocawear product line

(November 5, 2007) Elizabeth Arden, Inc., a global prestige beauty products company, has entered into an exclusive global licensing agreement with Iconix Brand Group, Inc. for the development, marketing and distribution of men's and women's fragrance, cosmetics, and skincare products with the leading lifestyle apparel brand Rocawear. A debut fragrance is planned to launch in the fall of 2008. Rocawear’s co-founder, Shawn 'Jay-Z' Carter, will provide the creative vision for the collections.

"Elizabeth Arden and Iconix have a successful history together, and we are thrilled to grow our relationship with this dynamic collaboration," said E. Scott Beattie, Chairman and Chief Executive Officer of Elizabeth Arden.

Iconix purchased the Rocawear brand in March of 2007. Rocawear is a dominant lifestyle brand with a wide range of customers and categories including sportswear, footwear, outerwear, handbags, belts, loungewear, big & tall, headwear, jewelry, sunglasses and children's clothing. Since its inception in 1999, its appeal has expanded beyond national borders to become a brand of international significance with annual retail sales of over $700 million. Rocawear co-founder Shawn Carter spearheads all product development, marketing and licensing for Rocawear.

"The Rocawear name connects with the customer we want to attract. Adding Rocawear to our lineup of lifestyle fragrance brands allows us to further diversify our multi-dimensional brand portfolio and expand our reach to a young, modern consumer. Elizabeth Arden's leadership in fragrance, coupled with the creative involvement of Shawn "Jay-Z" Carter and the team at Rocawear and Iconix, will provide us with a strong platform for success," added Beattie.

Commenting on the new launch, Shawn Carter, stated, "We are excited to partner with an industry giant such as Elizabeth Arden. The combination of their expertise in fragrance and our ability to affect popular culture will produce some incredible products and breathe excitement into the category."

Neil Cole, Chairman and CEO, Iconix, stated, "We are excited about the launch of the first ever Rocawear fragrance next fall. This is a significant step in the evolution of the Rocawear brand and a large long-term growth opportunity. The excitement and advertising surrounding the launch next fall will make Rocawear more visible than it has ever been and benefit the entire brand franchise."

Financial terms of the agreement were not disclosed.


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