Thu 21 Jan 2016
Pharrell is back in charge at Billionaire Boys Club. According to WWD, Skateboard P and his partners from BBC Miami have repurchased the 50 percent stake in BBC Ice Cream LLC — the parent company that owns Billionaire Boys Club and Ice Cream — from Iconix Brands Group Inc.
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Iconix, who also owns Umbro, Zoo York and Ecko Unltd, calls the sale a “strategic decision” in the wake of their recent financial troubles. The company has until June to complete a refinancing of a $300 million debt obligation and is also under investigation by the Securities and Exchange Commission.
However, the deal also gives Pharrell a fresh start at the beloved streetwear brands he launched with Nigo back in 2005. According to his spokeswoman, “the musician and his partners sought the opportunity to reacquire full control of the brands to continue their expansion, growth and licensing opportunities.”