After a career where he outswagged the entire Hip Hop culture, the game has finally got the best of him.  Its official Marc Ecko has sold 51% majority stake in his Ecko brand to Iconix.

This of course is not shocking news.  His financial troubles in the last few years have been well documented.  Despite closing several flagship boutiques, laying of employees and scaling back on growth, the day has come when Hip Hop’s most powerful fashion brand is now in corporate hands.

Its new owner, Iconix of course is no stranger to hip hop as its been scavenging labels for a minute including Rocawear, Sean John and Starter.  The brand management retail licensing company will pay Ecko $63.5 million cash much of which will go to paying off debts owed to creditors.  While that might seem like a lot compare that to the $204 Million they paid for Rocawear.

Still, in an exclusive interview with The Post, the debt-ridden designer took it all in stride.

“I’ve had a crazy, wild ride. I’ve done a lot of things that have been naive,” Ecko told The Post. “I’ll take my lumps for a lot of things that, in retrospect, were a little indulgent. Life happens. I don’t regret any of it.”

While most might think Ecko would be bummed out he noted that, with creditors breathing down his neck for the past year, the loss wasn’t such a big change.

“I’ve lived through a leveraged position,” Ecko said. “I don’t know whether, once you grow up your business like that, you have full control anymore anyway.”

As part of the deal Iconix also give Ecko $90 million in financing and keep Ecko as chief creative officer for a joint venture that projects between $42 million and $44 million in yearly royalties. So to count Marc Ecko out would be a gross underestimation.

“Reports of my demise have been reported often and early,” he said.

“Kids are not wearing big, baggy things with logos on them — it just looks different now,” Iconix CEO Neil Cole said. “I promise you these kids are not naked out there and they’re not wearing my father’s clothes.”

Via: NY Post