Konsta Lindqvist
Value, growth at reasonable price, contrarian, long-term horizon

Iconix: Wonderful Company But Is The Price Fair?

The Company

Iconix brand group (NASDAQ:ICON) is a brand management company which owns a large and diversified portfolio of consumer brands from sports, beauty, fashion etc. Brand portfolio consists of 35 brands, which create $13 billion in annual retail sales from which Iconix gets a bit over 3% as royalties. The company has been growing revenues at rapid pace, having 8 year CAGR at 40% and 5 year CAGR at over 13%. The growth has been driven mainly by acquisitions. Most recent bigger purchases were Umbro, Lee Cooper and 51% stake in Buffalo. Recently much of the growth has come from international operations. Revenues outside US are expected to be 40% in 2014 compared to only 14% in...

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