Pharrell Williams Buys Back 50% Stake In Billionaire Boys Club And Ice Cream
Mega hitmaker and fashion designer Pharrell Williams is back in full control at Billionaire Boys Club and Ice Cream.
Skateboard P (also known as Pharrell) and “his partners from BBC Miami have repurchased Iconix Brands Group Inc.’s 50% interest in BBC Ice Cream LLC, owner of the Billionaire Boys Club and Ice Cream streetwear brands,” reports WWD.
However, financial terms of the deal were not disclosed.
An Iconix spokesperson acknowledged the ownership shift and said to WWD, “The sale of our interest in BBC and Ice Cream was a strategic decision to rationalize smaller noncore assets in the Iconix portfolio, allowing us to focus our time and resources on the larger cash flow generating brands. BBC and Ice Cream represented less than 1 percent of our total business.”
Williams has been very active in the fashion business for over a decade. This is a new start for him to revamp the brands.
According to Williams’ spokeswoman, “the musician and his partners sought the opportunity to reacquire full control of the brands to continue their expansion, growth and licensing opportunities“.
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