New York, NY, October 27, 2011 – Infinity Lifestyle Brands, LLC announced today that Sharper Image Acquisition, LLC has signed a definitive agreement to sell The Sharper ImageÒbrand and intellectual property assets to Iconix Brand Group, Inc. for approximately $65.6 million in cash. Sharper Image Acquisition, LLC is a joint venture partnership led by Infinity Lifestyle Brands, Hilco Consumer Capital, Gordon Brothers Group, and Bluestar Alliance.
Sharper Image is a respected brand in the consumer electronics industry with over 85% brand recognition, and is best known for its innovative products. Sharper Image products are sold nationwide at better department and specialty stores and direct to consumer through the Sharper Image catalog and e-commerce website, www.sharperimage.com.
“We are very proud of the work done by the team at Infinity Lifestyle Brands and The Sharper Image team to revitalize and transform the brand, and add substantial incremental value through licensing strategies and new marketing channels” commented Ike S. Franco, Managing Partner, of Infinity Lifestyle Brands. “The Sharper Image brand is now in good hands at Iconix, and the Infinity team is busy adding value to other portfolio brands, including Polaroid, Linens ‘N Things, and Miss America.”
Please contact us regarding any plans toward IP sales, brand consultancy, licensing, and product category extension strategies.