Icon Brands Sold To ICGH, Delaware-Based Venture Capital Firm

VAN NUYS, Calif.—Icon Brands has been purchased by a newly formed Venture Capital group, Icon Capital Group Holdings, a Delaware LLC. Jim Carson, a spokesman for ICGH said, "We were extremely impressed at how quickly Icon was able to ramp up and do substantial numbers. They were able to turn the 20-year-old Falcon brand into a powerhouse line in less than a year, with the sharpest re-ackaging and re-marketing effort we've ever seen in the category. "We also like what Icon did in the fashion/fetish space with its beautiful Fashionistas line, and we're impressed with their Eat/Play/Love edibles and Velvet Plush silicone,” he continued. “We think it's a broad-based product range that's a great platform to grow from."  All told, Icon had released more than 250 SKUs at the time of the sale, in just over two years of shipping. Icon's popular sales team, Joanie Lee and Jenny Tse, will remain in place, as will its award-winning design and product development team. Some licenses will be replaced, and major announcements will be made before ANME, but right now the group is fast getting back in stock on items that had sold through during the transition. “These changes are never as fast and smooth as you'd like, but the new finance team has been excellent, and we're very excited about the possibilities ahead," Said Icon's National Sales Manager Joanie Lee. All contact numbers remain the same for the Icon offices and sales team, as does the firm's Van Nuys address.