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Fashion Mogul Marc Ecko Sells Off 51% Stake in his Name

By Miles Bennett   /   Published 10/30/09

Marc EckoAfter years of supporting a lavish lifestyle, Marc Ecko has been forced to sell off his brand. Some speculate whether it was out of desperation, since he had to layoff employees earlier this year, sell some his trademark brands, and pay off numerous creditors.

This week, the fashion mogul inked a deal with Iconix -- the brand which owns clothing lines like Rocawear, Mossimo and Joe Boxer -- giving up a 51 percent share in the Mark Ecko brand.

In exchange, he'll receive $63.5 million cash and $90 million in financing for the joint venture with Iconix.

Despite the sale, Ecko didn't seemed too worried when he spoke to the New York Post, saying that if he had to walk away from everything, he wouldn't look back.

"I've had a crazy, wild ride. I've done a lot of things that have been naive," Ecko told the paper. "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," he continued. "I don't know whether, once you grow up your business like that, you have full control anymore anyway."

Iconix will keep Ecko on as Chief Creative Officer in the new joint venture, said reports.

The Ecko Unlimited line may be undergoing changes following the deal, since its decline in recent years ... due, in part, to the ever changing styles of fashion.

But, under new management, the line will evolve says Iconix.

"Kids are not wearing big, baggy things with logos on them -- it just looks different now," Iconix CEO Neil Cole said. "I promise you these kids are not naked out there and they're not wearing my father's clothes."

In 2007, Marc Ecko purchased Barry Bonds' 756th home run ball, via an online auction for just over $752,000. Maybe, it's time to re-think those types of purchases.

  • pissed

    Fuck this motherfucker. If I ever see mark ekko I am gonna split his head wide open. U will feel the wrath of barry bonds u fuckin punk. FUCK U AND YOUR MOTHER MARK EKKO.

  • Slab

    ECKO UNLTD clothing makes good car wash rags... yeeeeep been usin em for years...

  • Fli City G

    ecko fuck you haters

  • http://americanstreetclothes.com Ty Culpepper

    Dude taken on more than he could deal with. But, thru it all Ecko is still getting money. He will be aight.

  • http://dvsinc.blogspot.com/ VENGEANCE IS MINE!!!!!!!!!!

    WATCH HIM BLAME IT ALL ON THE WORLD ECONOMY CRISIS!!!!

  • PSU

    Ecko is shit. Basicly a cheap polo with a rhino that falls off the shirt after you wash it