Iconix to Buy Joe Boxer

New York City, Iconix Brand Group has entered into a letter of intent to purchase the high-profile Joe Boxer intimates brand. Iconix, which went by the name Candie’s until last month, said it was negotiating a definitive purchase agreement subject in part to the company’s ability to obtain financing, among other contingencies.

The Joe Boxer brand has had an exclusive distribution deal with Kmart since 2001. Sears Holdings Corp. carried over the agreement when Sears, Roebuck and Co. and Kmart Holding Corp. merged this year.