Pharrell Buys Back Huge Stake In Billionaire Boys Club & Ice-cream (Details)
The boss is back! Pharrell Williams purchased back 50% of stake within the Billionaire Boys & Ice-cream company from the Iconic Brand Group Inc. according to WWD.
Iconix, who also owns Umbro, Zoo York and Ecko Unltd, calls the sale a “strategic decision” in the wake of their recent financial troubles. The company has until June to complete a refinancing of a $300 million debt obligation and is also under investigation by the Securities and Exchange Commission.
However, the deal also gives Pharrell a fresh start at the beloved streetwear brands he launched with Nigo back in 2005. According to his spokeswoman, “the musician and his partners sought the opportunity to reacquire full control of the brands to continue their expansion, growth and licensing opportunities.”
Boss moves. Congrats Pharrell!