Madonna, Iconix Team for First Macy's DTR Deal

A Material Girl-themed juniors’ fashion line will launch exclusively at Macy’s in August through MG Icon, a new joint venture between Iconix Brand Group and Madonna.

The Material Girl apparel collection, designed by Madonna and her daughter Lourdes, will roll out to approximately 200 Macy’s stores and www.macys.com in August in time for back-to-school. Additional categories will also launch, including footwear, handbags and jewelry, as well as a fragrance in 2011. The line will retail from $12 to $40.

The direct-to-retail deal with Macy’s includes the option to launch additional brands with MG Icon.

“We believe that Material Girl will be a dynamic exclusive brand for Macy’s and we look forward to working with Madonna, Lourdes and the Iconix team,” says Jeff Gennette, Macy’s chief merchandising officer. “Madonna is a fashion icon who can bring a new dimension to our juniors customer. Material Girl will enhance the excitement of fast fashion at Macy’s.”

In the joint-venture deal between Iconix and Madonna, MG Icon will develop and seek out business opportunities in the U.S. and worldwide, including the creation and acquisition of brands. MG Icon will be 50 percent owned by Iconix and 50 percent owned by an entity controlled by Madonna and Guy Oseary.

“Madonna is a legend in the world of music, fashion and entertainment and now with her deep involvement in MG Icon we will be able to leverage her vision into consumer products globally,” says Neil Cole, chief executive officer and chairman of Iconix Brand Group. “Our strategy is to introduce brands formed through the joint venture in multiple countries and organically expand worldwide.”

Iconix Brand Group consumer brands include Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Roca Wear and Starter. The company also owns an interest in the Artful Dodger, Ed Hardy, Ecko, Marc Ecko and Zoo York brands.

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