Hip-Hop Designer Marc Ecko Forced To Sell Brand To Pay Off Creditors

Youngmoneyclick · 10-29-2009, 04:20 AM

Hip-Hop clothing designer Marc Ecko's financial issues have officially caught up with him with new reports confirming that he has been forced to give up his clothing trademark.
Click here to find out more!

Details on the designer's loss landed online today (October 28).

Ecko was forced to sell off a controlling stake in Ecko, middle America's most familiar hip-pop fashion line in order to raise cash to pay off creditors. It'll help the feeble brand hobble on, but it won't be his. (Gawker)

He has also discussed his highly publicized battle with creditors.

"I've had a crazy, wild ride," Ecko explained in an interview. "I've done a lot of things that have been naive. 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...I've lived through a leveraged position. I don't know whether, once you grow up your business like that, you have full control anymore anyway. Reports of my demise have been reported often and early." (New York Post)

Marc Ecko's financial records recently emerged showing his company is nearly $200 million in debt.

Ecko has hired investment bank Peter J. Solomon to help refinance at least $170 million in debt. The debts are owed to a couple of important business partners. If he can't find a willing lender, Ecko may have to sell off some assets. Like many fashion outfits, the Marc Ecko brand took a hit during the past retail season. Sources say the company owes more than $100 million to Li & Fung, a global trading company that helps manufacture Marc Ecko products. He also also defaulted on a term loan of more than $70 million from a syndicate led by commercial-lending giant CIT and although he won forbearance on the loan, CIT will have to be paid by summer. (Luxist)

Rick Ross previously cited 50 Cent as a fashion liability to Marc Ecko's clothing empire, which originally produced the G-Unit apparel line.

"The music ended his career," Ross explained. "The way he dress ended his career. He almost put Marc Ecko outta business. He f*cked Vivica Fox and ended her career as an actress. It's the truth, it's the truth. We just coming to make hot records, you know what I'm saying? That's how you kill the haters, you continue to be successful, you stay focused. That's what it is, I stay focused, grounded. I never forget the small people. I always go back to my community, you know what I mean? And they embrace it and to me, that's what's important. (Lunetz TV)

Source-

AIM0001 · 10-29-2009, 05:49 AM

Damn this sucks cuz I still dig some of ECKO'S shit.....I still rock da brand to dis day

Too bad for ECKO

B.A.N.K.S · 10-29-2009, 05:57 PM

damn homie ... never really got into his clothes... didnt see niggas really fuckin wit it... i would see the whites (who wanted to dress "urban") and mexicans wearing them. I rock'd the Roc and SJ

Will21 · 10-29-2009, 06:23 PM

shitty news they have nice shit every now and then

LawrenceSouljah · 10-29-2009, 10:22 PM

Thats sucks, they had some nice Graffiti piece designs.

qwefewf313 · 10-29-2009, 10:45 PM

that brand was for peasants, only monkey hoodlums with no sense of fashion such as 50 cunt, wear that poor people brand, I stay rocking Armani gucci and louie vuitton shit so thank god no more rhino brand

goothgone · 10-29-2009, 11:18 PM

when g-unit clothing was with ecko couple years ago thats was dope

B.A.N.K.S · 10-30-2009, 03:34 PM

Quote:

Originally Posted by qwefewf313

that brand was for peasants, only monkey hoodlums with no sense of fashion such as 50 cunt, wear that poor people brand, I stay rocking Armani gucci and louie vuitton shit so thank god no more rhino brand

LMAO .... im surprised you aint banned ?

10-29-2009, 04:20 AM	#1
Youngmoneyclick FREE T.I Join Date: Jul 2006 Location: in tha hood Posts: 3,092 Repped: 207 Repped 5,553 Times in 1,685 Posts Neg Reps: 89 Neg Repped at 217 Times in 126 Posts	Hip-Hop Designer Marc Ecko Forced To Sell Brand To Pay Off Creditors Hip-Hop Designer Marc Ecko Forced To Sell Brand To Pay Off Creditors Hip-Hop clothing designer Marc Ecko's financial issues have officially caught up with him with new reports confirming that he has been forced to give up his clothing trademark. Click here to find out more! Details on the designer's loss landed online today (October 28). Ecko was forced to sell off a controlling stake in Ecko, middle America's most familiar hip-pop fashion line in order to raise cash to pay off creditors. It'll help the feeble brand hobble on, but it won't be his. (Gawker) He has also discussed his highly publicized battle with creditors. "I've had a crazy, wild ride," Ecko explained in an interview. "I've done a lot of things that have been naive. 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...I've lived through a leveraged position. I don't know whether, once you grow up your business like that, you have full control anymore anyway. Reports of my demise have been reported often and early." (New York Post) Marc Ecko's financial records recently emerged showing his company is nearly $200 million in debt. Ecko has hired investment bank Peter J. Solomon to help refinance at least $170 million in debt. The debts are owed to a couple of important business partners. If he can't find a willing lender, Ecko may have to sell off some assets. Like many fashion outfits, the Marc Ecko brand took a hit during the past retail season. Sources say the company owes more than $100 million to Li & Fung, a global trading company that helps manufacture Marc Ecko products. He also also defaulted on a term loan of more than $70 million from a syndicate led by commercial-lending giant CIT and although he won forbearance on the loan, CIT will have to be paid by summer. (Luxist) Rick Ross previously cited 50 Cent as a fashion liability to Marc Ecko's clothing empire, which originally produced the G-Unit apparel line. "The music ended his career," Ross explained. "The way he dress ended his career. He almost put Marc Ecko outta business. He f*cked Vivica Fox and ended her career as an actress. It's the truth, it's the truth. We just coming to make hot records, you know what I'm saying? That's how you kill the haters, you continue to be successful, you stay focused. That's what it is, I stay focused, grounded. I never forget the small people. I always go back to my community, you know what I mean? And they embrace it and to me, that's what's important. (Lunetz TV) Source- __________________

10-29-2009, 05:49 AM	#2
AIM0001 Join Date: Apr 2009 Location: CO Posts: 90 Repped: 11 Repped 15 Times in 11 Posts Neg Reps: 0 Neg Repped at 1 Time in 1 Post	Damn this sucks cuz I still dig some of ECKO'S shit.....I still rock da brand to dis day Too bad for ECKO __________________ Here today, gone tomorrow, but you'd have to walk a thousand miles...

10-29-2009, 05:57 PM	#3
B.A.N.K.S Veteran Join Date: Sep 2005 Location: Cali is the place to be Posts: 1,297 Repped: 217 Repped 165 Times in 114 Posts Neg Reps: 57 Neg Repped at 26 Times in 25 Posts	damn homie ... never really got into his clothes... didnt see niggas really fuckin wit it... i would see the whites (who wanted to dress "urban") and mexicans wearing them. I rock'd the Roc and SJ __________________ I'm a fan of hip hop rap, but i DON'T give a shit about none of them niggas they ain't cutting me no check.. So i state MY opinions on shit from 50 Cent to Lil Wayne good or bad ... Rep me if believe what i say is right and if you NEG rep me then you caught feelings for a nigga you don't know pussy !!

10-29-2009, 10:22 PM	#5
LawrenceSouljah Veteran Join Date: Feb 2007 Posts: 2,200 Repped: 698 Repped 147 Times in 88 Posts Neg Reps: 2 Neg Repped at 7 Times in 5 Posts	Thats sucks, they had some nice Graffiti piece designs. __________________ I see you using an old style, I wondered where you had learned it from. You know very well, it's yours too

10-29-2009, 11:18 PM	#7
goothgone Relapse = Dope Join Date: Jan 2005 Location: Montreal,QC Posts: 1,558 Repped: 977 Repped 184 Times in 92 Posts Neg Reps: 26 Neg Repped at 9 Times in 6 Posts	when g-unit clothing was with ecko couple years ago thats was dope __________________

10-29-2009, 06:23 PM	#4
Will21 Veteran Join Date: Oct 2006 Location: The Netherlands Posts: 1,292 Repped: 696 Repped 50 Times in 33 Posts Neg Reps: 27 Neg Repped at 13 Times in 8 Posts	shitty news they have nice shit every now and then

10-29-2009, 10:45 PM	#6
qwefewf313 Banned Join Date: Aug 2009 Location: compton Posts: 14 Repped: 0 Repped 5 Times in 4 Posts Neg Reps: 0 Neg Repped at 79 Times in 13 Posts	that brand was for peasants, only monkey hoodlums with no sense of fashion such as 50 cunt, wear that poor people brand, I stay rocking Armani gucci and louie vuitton shit so thank god no more rhino brand

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode