Pharrell Williams and his BBC Miami partners are back in full control at Billionaire Boys Club and ICECREAM, after buying out Iconix Brands Group Inc's 50% stake in the labels. Not that everything's suddenly all rosy – the company has until June to complete a refinancing job on $300 million worth of debt, and is currently being investigated by the Securities and Exchange commission.
According to Pharrell's spokesperson, his producer and BBC Miami wanted to get Iconix's meddling paws out of the two brands (not their exact words, obviously) so they could have full control over their expansion, growth and licensing opportunities. It's unclear how BBC and ICECREAM got into such dire financial straits, but what could the suited moneymen at Iconix possibly know about streetwear?
Check out the diamond-and-dollars encrusted Stan Smith, probably BBC's most noteworthy collab of recent times.