Xcel Brands, Inc. engages in designing, licensing, and marketing the Isaac Mizrahi trademarks and brands, including Isaac Mizrahi New York, Isaac Mizrahi, Isaac Mizrahi Jeans, M., and IsaacMizrahiLIVE (the ‘Isaac Mizrahi Brands’). The company also engages in the design business related to the Liz Claiborne New York brand (the ‘LCNY Brand’). Licensing Business The company’s licensing activities focus on three primary businesses, such as licensing the ‘IsaacMizrahiLIVE’ brand for distribution through Direct-Response Television (QVC, Inc. (QVC)); licensing the Isaac Mizrahi Brands (excluding the IsaacMizrahiLIVE brand) to wholesale manufacturers, sourcing and design companies, and retailers for promotion and distribution through the internet and traditional bricks-and-mortar retail channels; and managing and promoting the LCNY Brand for distribution through Direct-Response Television (QVC). In connection with such licensing activities, the company provides design support to licensees of the Isaac Mizrahi Brands and LCNY Brand where required and coordinate merchandising and sales efforts between its various licensees in each case where appropriate. It also conducts traditional marketing, advertising, public relations, and social media marketing campaigns for the Isaac Mizrahi Brands, and coordinates, such activities with its licensees. QVC Licensing Agreement: Through its wholly-owned subsidiary, IM Brands, LLC (IM Brands), the company owns a direct-to-retail license agreement with QVC. Pursuant to the QVC Agreement, IM Brands designs, and QVC sources and sells, various products under the ‘IsaacMizrahiLIVE’ brand. The IsaacMizrahiLIVE licensing program includes the sale of products across various categories, including apparel, footwear, handbags, jewelry, accessories, kitchen, and home goods through QVC’s television media and related Internet sites. Pursuant to the QVC Agreement, IM Brands has granted to QVC and its affiliates the worldwide right to promote IsaacMizrahiLIVE products and the right to use and publish the related trademarks, service marks, copyrights, designs, logos, and other intellectual property rights owned, used, licensed, and/or developed by IM Brands. Bricks-and-Mortar Licensing Agreements: As of December 31, 2012, the company had entered into approximately 40 additional licensing agreements related to the Isaac Mizrahi Brands for sales and distribution through the Internet and traditional bricks-and-mortar retailers (the ‘Bricks-and-Mortar Licenses’) in various categories, including womens’ footwear, accessories, apparel, outerwear, and bridal gowns; fragrance, bath and body; jewelry; home products; mens’ apparel and accessories; childrens’ and infant apparel, footwear and accessories; and electronics cases and accessories. LCNY Agreement: Pursuant to the LCNY Agreement, the company provides certain promotional services related to the LCNY Brand, rights to use Isaac Mizrahi name as creative director for the LCNY Brand, and design services to Fifth and Pacific Companies, Inc for the LCNY Brand, which is sold exclusively through QVC. Design and Promotional Services The company provides design and other services to certain of its licensees, and in some cases, to select brands owned by third parties. In particular, the company provides design services to QVC for products sold under both the QVC Agreement and LCNY Agreement, including seasonal design guidance, product development and merchandising, product design and sample review and approvals through its in-house design organization, and provides limited design services to its Bricks-and-Mortar Licenses, which might include seasonal design guidance (such as style guides) and/or print and pattern development. In certain cases, the company provides promotional services to other brands or companies, which might include the use of Isaac Mizrahi or the Isaac Mizrahi Brands for the promotion of such company or brands through the Internet, television, or other digital content, print media or other marketing campaigns featuring, in-person appearances by Mr. Mizrahi, the development of limited collections of products (which might include co-branded products) for such company, or other services as determined on a case-by-case basis. Trademarks The company, through IM Brands, owns the Isaac Mizrahi Brands, which includes the trademarks and brands, such as Isaac Mizrahi, Isaac Mizrahi New York, Isaac Mizrahi Jeans, M., and IsaacMizrahiLIVE. These trademarks and associated marks are registered or pending registration with the U.S. Patent and Trademark Office in block letter and/or logo formats, as well as in combination with various ancillary marks for use with respect to various product categories, including apparel, footwear, and various other goods and services, including in some cases, home furnishings and decor. Government Regulation The company is subject to federal, state, and local laws and regulations affecting its business, including those promulgated under the Occupational Safety and Health Act, the Consumer Product Safety Act, the Flammable Fabrics Act, the Textile Fiber Product Identification Act, the rules and regulations of the Consumer Products Safety Commission, and various environmental laws and regulations. Significant events In February 2014, Xcel Brands, Inc. announced the opening of the Isaac Mizrahi New York store located in Woodstock, Georgia.
xcel brands inc (XELB:OTC BB)
475 10th Avenue
New York, NY 10018
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