For more, see Thursday’s issue of WWD.
In August 2004, Op was sold to Warnaco Group Inc. for $40 million and the assumption of $1 million of debt. Iconix purchased Op in November 2006 for $53 million. Iconix assumed 15 domestic licenses covering product categories such as footwear, sunglasses, kids’ apparel and fragrance. Op did $250 million in wholesale sales worldwide in 2005. After the deal closed, the brand went on hiatus, after being sold in such stores as J.C. Penney and Kohl’s. Iconix struck an exclusive deal with Wal-Mart last August.