The Ledger
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Marc Ecko retained Complex and perpetual royalties in his Iconix buyout
“I sold my equity interests to make room for Iconics to buy my position. There was a payout for me, and I would keep Complex, and I would get a royalty on the gross sales of the business for forever.”
Marc Ecko: Seth Gerzberg invested $5,000 for a 50-50 partnership
“So I finally reach out to him, and he's like, okay, look, let's do this. You know, fifty-fifty, we'll do it. What do you need, five grand?”
Marc Ecko: Ecko Unltd was horribly unprofitable despite $15M-$20M in revenue
“No, we were horribly unprofitable.”
Ecko: 3-year outerwear deal split revenue 50-50 with no FOB markup
“You fund the making and we'll split fifty-fifty on the revenue. I'll pick up the marketing costs and we'll go season by season and we'll commit to like a three-year deal, right? But you can't mark up the freight on board pricing, the FOB pricing, right?”
Marc Ecko: Investor Alan Finkelman provided angel debt without taking trademark rights
“Yeah, the exact terms were, it was more like a debt deal, and it was a very much an angel, good guy deal.”
Marc Ecko made thousands weekly from custom apparel before 1993
“So this was from eighth grade through the time I started the business in 93, I was every year building that business, and to the point where, you I was making thousands of dollars a week. When I was really, when I would allocate time.”