New deal for The Iconic

Online fashion retailer, The Iconic, has confirmed a new investment by JP Morgan Asset Management.

The company will take a significant stake in the company through a German holding company in an all cash for equity investment.

Finn Age Haensel, MD and co-founder of The Iconic, said it was great to have an international corporation believing in the company and the Australian market.

“It will support us to continue to grow in this market and remain the leader in online fashion. We are extremely proud to work with them and will benefit in their international expertise,” said Haensel.

Robert Cousin, portfolio manager of JP Morgan Asset Management, also confirmed the new partnership.

“We are excited to partner with The Iconic as the company continues to expand its eCommerce presence in Australia and New Zealand.”

Launched in October 2011, The Iconic stocks more than 500 brands and 25,000 products.

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