Rick Ross Was Right, ECKO is out of business. Confirmed.

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Props Slaps
 10-28-2009, 03:32 PM         #1
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sniper1 
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Rick Ross Was Right, ECKO is out of business. Confirmed.
 

 
Hip-Hop clothing designer Marc Ecko's financial issues have officially caught up with him with new reports confirming that he has been forced to give up his clothing trademark.

Details on the designer's loss landed online today (October 28).

Ecko was forced to sell off a controlling stake in Ecko, middle America's most familiar hip-pop fashion line in order to raise cash to pay off creditors. It'll help the feeble brand hobble on, but it won't be his. (Gawker)
He has also discussed his highly publicized battle with creditors.

"I've had a crazy, wild ride," Ecko explained in an interview. "I've done a lot of things that have been naive. I'll take my lumps for a lot of things that, in retrospect, were a little indulgent. Life happens. I don't regret any of it...I've lived through a leveraged position. I don't know whether, once you grow up your business like that, you have full control anymore anyway. Reports of my demise have been reported often and early." (New York Post)

Marc Ecko's financial records recently emerged showing his company is nearly $200 million in debt.

Ecko has hired investment bank Peter J. Solomon to help refinance at least $170 million in debt. The debts are owed to a couple of important business partners. If he can't find a willing lender, Ecko may have to sell off some a.ssets. Like many fashion outfits, the Marc Ecko brand took a hit during the past retail season. Sources say the company owes more than $100 million to Li & Fung, a global trading company that helps manufacture Marc Ecko products. He also also defaulted on a term loan of more than $70 million from a syndicate led by commercial-lending giant CIT and although he won forbearance on the loan, CIT will have to be paid by summer. (Luxist)


Rick Ross previously cited 50 Cent as a fashion liability to Marc Ecko's clothing empire, which originally produced the G-Unit apparel line.

"The music ended his career," Ross explained. "The way he dress ended his career. He almost put Marc Ecko outta business. He f*cked Vivica Fox and ended her career as an actress. It's the truth, it's the truth. We just coming to make hot records, you know what I'm saying? That's how you k!ll the haters, you continue to be successful, you stay focused. That's what it is, I stay focused, grounded. I never forget the small people. I always go back to my community, you know what I mean? And they embrace it and to me, that's what's important. (Lunetz TV)


[pic - click to view]

 HIP-HOP DESIGNER MARC ECKO FORCED TO SELL BRAND TO PAY OFF CREDITORS | SOHH.COM

24 comments for "Rick Ross Was Right, ECKO is out of business. Confirmed."

 7 years ago '04        #2
badboy600 14 heat pts14
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They did invest a lotta money in 50 & Eve's clothing lines. Both Failed badly.
 7 years ago '08        #3
StopLoss24 1 heat pts
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everything curly touch turns to suck

smh..

hold your head Marc
 10-28-2009, 08:08 PM         #4
rawproduct03 
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50 got his money,them dollar bills 50 got didn't go outta business. get in and get out. hows those fake 5xl gucci cloths that ross wear doin???? oh wait ross doesn't even have a clothing line deal??? lmaooo
 10-28-2009, 08:12 PM         #5
k3llz 
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 rawproduct03 said:
50 got his money,them dollar bills 50 got didn't go outta business. get in and get out. hows those fake 5xl gucci cloths that ross wear doin???? oh wait ross doesn't even have a clothing line deal??? lmaooo
you right, but i agree with Ross here, that n*gga 50 mane and you fans are worst
 7 years ago '07        #6
MELODY 16 heat pts16
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HOLD YOUR HEAD MARC, SHOULDA KNOWN NOT TO f**k WITH CURLY.
 7 years ago '04        #7
CentsCuZ 18 heat pts18
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...Somewhere Barry Bonds is smiling.
 10-28-2009, 08:42 PM         #8
deLeet 
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should have expanded hard internationally and bought out a popping design company(coogi) in usa like what fubu did. Flow with rap music as it expands and you be alright.


Last edited by deLeet; 10-28-2009 at 08:43 PM..
 7 years ago '04        #9
J2hott23 46 heat pts46
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Update:


Rocawear Licenser Iconix Buys Majority Stake In Ecko



By Ismael AbduSalaam
Apparel licensing company and Rocawear manufacturer Iconix has completed a new deal that gives them a 51% stake in the Ecko clothing brand.



The deal gives Iconix a majority stake in Eckoís private portfolio, and was finalized for the amount of $63.5 million.



Iconix expects a quick turnaround on their investment, projecting the venture to generate $42-$44 million in revenue by the end of 2010.



If the projection proves accurate, Iconix will post a $26 million share of the proceeds.



Iconix chief executive Neil Cole expects the success to stem largely from Eckoís diverse brand which currently boasts 12 distinct lines such as Ecko Unlimited (men), Ecko Red (women), Zoo York (skateboarding), and Marc Ecko Scopes (eyewear).



"Ecko already has strong licensing partners and a robust European platform, from which we could leverage the rest of our portfolio," Cole explained in a statement.



In addition, Cole verified that Ecko founder Marc Ecko will retain his position as the brandís chief creative officer. Ecko was founded as a small, urban clothing line in 1993.



Over the past 16 years, Marc Ecko has expanded his brand from its initial strong Hip-Hop following to mainstream acceptance and recognition.



The new agreement follows Eckoís previous marketing and merchandising deal with G-Unit Clothing, which spanned from 2003-2008.

Source:
 10-28-2009, 09:43 PM         #10
Rowe 
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who wears ecko here?
 7 years ago '08        #11
ingtoo! 
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 J2hott23 said:
Update:


Rocawear Licenser Iconix Buys Majority Stake In Ecko



By Ismael AbduSalaam
Apparel licensing company and Rocawear manufacturer Iconix has completed a new deal that gives them a 51% stake in the Ecko clothing brand.



The deal gives Iconix a majority stake in Eckoís private portfolio, and was finalized for the amount of $63.5 million.



Iconix expects a quick turnaround on their investment, projecting the venture to generate $42-$44 million in revenue by the end of 2010.



If the projection proves accurate, Iconix will post a $26 million share of the proceeds.



Iconix chief executive Neil Cole expects the success to stem largely from Eckoís diverse brand which currently boasts 12 distinct lines such as Ecko Unlimited (men), Ecko Red (women), Zoo York (skateboarding), and Marc Ecko Scopes (eyewear).



"Ecko already has strong licensing partners and a robust European platform, from which we could leverage the rest of our portfolio," Cole explained in a statement.



In addition, Cole verified that Ecko founder Marc Ecko will retain his position as the brandís chief creative officer. Ecko was founded as a small, urban clothing line in 1993.



Over the past 16 years, Marc Ecko has expanded his brand from its initial strong Hip-Hop following to mainstream acceptance and recognition.



The new agreement follows Eckoís previous marketing and merchandising deal with G-Unit Clothing, which spanned from 2003-2008.

Source:
Well at least the line will live on.
 7 years ago '04        #12
J2hott23 46 heat pts46
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 Rowe said:
who wears ecko here?
I rock it. They got some good sh*t I like. I don't really care what the kids are wearing these days
 10-28-2009, 09:59 PM         #13
Listerine II 
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what exactly is the point of this thread?

failed attempt @ hatred on my boy curtis i a.ssume
 7 years ago '04        #14
Hardkore 10 heat pts10
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lmao @ rick ross thinking 50 cent had anything to do with ecko's downfall.

how about the owner of the company not buy f*ckin' baseballs for 1 point somethin' million dollars and make wiser spending decisions? hmmmm?
 7 years ago '04        #15
Don Savant|S 3 heat pts
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Bout to go to Burlington's tomorrow to cop some Ecko for this weekend. Yup.
 7 years ago '04        #16
J.BEEZY 10 heat pts10
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 CentsCuZ said:
...Somewhere Barry Bonds is smiling.
yessir...f**k marc ecko
 7 years ago '07        #17
MELODY 16 heat pts16
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 Listerine II said:
what exactly is the point of this thread?

failed attempt @ hatred on my boy curtis i a.ssume
 Hardkore said:
lmao @ rick ross thinking 50 cent had anything to do with ecko's downfall.

how about the owner of the company not buy f*ckin' baseballs for 1 point somethin' million dollars and make wiser spending decisions? hmmmm?

AT THESE n*ggaS IN DENIAL.
 7 years ago '05        #18
Garnet & Gold 42 heat pts42
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People wear Zoo York though
 7 years ago '04        #19
RAPSOURCE2003 10 heat pts10
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 j2hott23 said:
update:


Rocawear licenser iconix buys majority stake in ecko



by ismael abdusalaam
apparel licensing company and rocawear manufacturer iconix has completed a new deal that gives them a 51% stake in the ecko clothing brand.



The deal gives iconix a majority stake in eckoís private portfolio, and was finalized for the amount of $63.5 million.



Iconix expects a quick turnaround on their investment, projecting the venture to generate $42-$44 million in revenue by the end of 2010.



If the projection proves accurate, iconix will post a $26 million share of the proceeds.



Iconix chief executive neil cole expects the success to stem largely from eckoís diverse brand which currently boasts 12 distinct lines such as ecko unlimited (men), ecko red (women), zoo york (skateboarding), and marc ecko scopes (eyewear).



"ecko already has strong licensing partners and a robust european platform, from which we could leverage the rest of our portfolio," cole explained in a statement.



In addition, cole verified that ecko founder marc ecko will retain his position as the brandís chief creative officer. Ecko was founded as a small, urban clothing line in 1993.



Over the past 16 years, marc ecko has expanded his brand from its initial strong hip-hop following to mainstream acceptance and recognition.



The new agreement follows eckoís previous marketing and merchandising deal with g-unit clothing, which spanned from 2003-2008.

Source:
lmao jay-z is going to tell 50 to wear a pink g-unit shirt to his concert that bx groupies attend to......
 10-28-2009, 10:34 PM         #20
Listerine II 
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 MELODY said:

AT THESE n*ggaS IN DENIAL.
u claim to hate fifty yet are in threads related to him more than his fans

i think u the one in denial, clearly

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