Walmart not to renew its DanskinNow license beyond Jan, 2019

In a landmark announcement, Walmart has decided not to renew its DanskinNow license that is a diffusion of the Danskin brand, beyond January 2019. This announcement came from Iconix Brand Group.

According to Iconix, royalty revenue for the Danskin brand is estimated to decline roughly $15.5 million in 2018. In the long term, the transition will provide opportunity to re-launch and expand the core Danskin brand.

However, Danskin will continue to be distributed to retailers including Lord & Taylor, Costco and TJMaxx.

Recently, Iconix partnered with The Moret Group to create a capsule collection for the Danskin brand that would benefit the Breast Cancer Research Foundation.

The brand also partnered with Dreamwear for women’s loungewear, sleepwear, intimates and shapewear; as well as with JoJo Siwa, making the brand’s first-ever co-branded collection for kids.

Additionally, the brand management company has forecast that it will unlikely be in compliance with its financial debt covenants in 2018.

 

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