Is Marc Ecko’s Empire Crumbling?
The NYPost.com reported today that Marc Ecko may very well be losing majority of his brand.
The designer is apparently drowning in debt and on the verge of bankruptcy.
Iconix, the apparel giant who also owns 50% of Ed Hardy, may soon be acquiring at least 51% of the Ecko brand.
If the deal is sealed, Iconix would be paying up half of the debt that Ecko has incurred, which is in the hundreds of millions of dollars!
In an attempt to make a dent in his debt, Ecko began selling off licenses and brands this past summer, including Avirex.
The brand is still operating in their midtown Manhattan showroom, but this deal could be made within the next couple of weeks.
I wonder if having a 280,000-square-foot showroom equipped with a full basketball court and accommodating many huge open-bar parties had anything to do with it…