Hong Kong’s ThreeSixty Group has spent US$100 million to buy The Sharper Image brand and intellectual property assets from US licensing company Iconix Brand Group.
The Sharper Image is an American high-tech lifestyle products brand, and ThreeSixty Group, which provides branded consumer products to US retailers, plans to explore growth opportunities.
Iconix CEO John Haugh says the transaction generates a significant return on investment, noting that while The Sharper Image is a strong brand, it is not consistent with the company’s vision.
ThreeSixty Group co-founder Kirk McLean says the purchase will unlock attractive growth opportunities for both ThreeSixty and the brand’s array of licensees.
“As the new brand owner, we are planning to increase our strategic investments in product development, design and marketing while exploring the chance to expand into new categories and geographies to realise the full potential of this iconic brand,” he says.
ThreeSixty has established a brands division to support the development and expansion of The Sharper Image as well as other brands including US toy store FAO Schwarz, founded in 1862 and acquired by ThreeSixty in October. The brand closed its famous New York store in July 2015.