Hip-hop clothing giant, Marc Ecko, recently handed over total control over his name and brand to Iconix.  They now own  51% of Marc Ecko’s intellectual property as a result of the harsh retail market and weak U.S. economy.  Ecko has now licensed back his trademark and will now have to push towards his wholesale and retail businesses.

Iconix own brands that range from upscale designer Badgley Mischka to middle-market brands like Joe Boxer and Ocean Pacific and recently signed on Madonna and Lourdes Material Girl Clothing which launches this week.

Iconix agreed to pay an average of  $100 million of  Marc Ecko debt owed to Li & Fung, a global trading company that helped manufacture Marc Ecko’s clothes. Additionally, Iconix could potentially take on a remainder of the debt onto its own balance sheet.

Tags: iconix, mark ecko