Iconix Brand Group, in partnership with Anthony L&S Athletics, LLC, has acquired the North American rights to the athletic brand Pony for $37 million in cash from Symphony Holdings, LLC.
The assets will be purchased through a newly formed subsidiary, which will be owned 75 percent by Iconix and 25 percent by AL&S. Subsequent to this transaction, Iconix has the option to expand global ownership of the brand and acquire the Pony assets in additional territories.
“Sports has been one of the strongest and fastest growing segments of our portfolio, and a business that has proven to be truly global in its appeal,” Iconix chairman and CEO Neil Cole said. “With the addition of Pony, we believe we can leverage our existing sports platform including our Danskin, Starter and Umbro brands, which represent over two billion of global retail sales, and create significant value for the brand.”
Launched in 1972 in New York City, Pony shot to the top of athletic footwear brands worldwide appearing on professional athletes in the World Cup, NBA, NFL, MLB and boxing. The brand is now trading on its heritage qualities.
“There is high demand for authentic athletic lifestyle brands,” Iconix COO Seth Horowitz said. “With Pony’s strong brand recognition across both male and female consumers, we believe we can grow Pony throughout North America, creating a profitable multitiered distribution strategy similar to our other successful sports brands.”