Hilco Streambank announced that it is seeking offers to acquire the assets associated with Hickies, the maker of no-tie shoelaces.
Items available for sale include more than 100 patents providing U.S. and international protection, 100 trademarks, the www.hickies.com domain name, and more than 200 additional domain names.
Hickies’ patented no-tie shoelace turns any shoe with eyelets into a slip-on. More than six million Hickies packs were sold in 29 countries, generating sales in excess of $60 million. Partnerships with footwear and sportswear brands have bolstered Hickies’ sales worldwide. Hickies’ products are sold through its e-commerce site, Amazon and at footwear and department stores.
“Hickies has made substantial investments in building a brand with significant equity and cache, a superior product and a robust intellectual property portfolio with international coverage,” said Hilco Streambank Senior VP, Richelle Kalnit. “A buyer has the opportunity to continue to work with Hickies current top-tier management, which is available to provide transition support and/or long-term services to maintain continuity of the business, or to forge a new path for the brand.”
The deadline for submitting offers to acquire the property is May 20, 2021, at 5:00 p.m. ET and a sale of the property will be conducted pursuant to Article 9 of the Uniform Commercial Code on May 25, 2021, at 12:00 p.m. ET by Hilco Streambank as agent for Midcap Funding XVII Trust, a secured lender.
For more information, go here.
Photo courtesy Hickies