Iconix buys Denim Brand Lee Cooper for £47m

ICONIX Brand Group said yesterday it has snapped up the British denim label Lee Cooper for £47m as it continues its buying spree to expand its international business. The group, which licenses shoe and clothing brands to retailers, also reported a fall in fourth quarter profit to $26.1m (£17m) from $27.2m last year with sales down 11 per cent to $85.1m.