I still have my Ice Cream sneakers from the early 2000s and couldn’t be happier to see the company back in the hands of its rightful owner. Artist, producer, music’s go-to guy Pharrell Williams has regained a controlling interest in both Billionaire Boys Club and Ice Cream by purchasing 50% stake of the brand the started.
WWD reports Skateboard P and his partners at BBC Miami purchased the stake from Iconix Brands Group for an undisclosed amount.
In response to the sale an Iconix representative stated, “The sale of our interest in BBC and Ice Cream was a strategic decision to rationalize smaller noncore assents 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.”
That “less than 1 percent” is now a load off their shoulders as WWD also reports Iconix is struggling to balance their assets and has to refinance $300 million in debt while under investigation for the Securities and Exchange Commission.
Sorry for their misfortunes but happy for Pharrell to get his brand back.