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ThreeSixty Group Inc. in Irvine acquired The Sharper Image brand from Iconix Brand Group Inc. in New York for $100 million in cash.
This is ThreeSixty’s second recent purchase of a well-known brand. it bought the FAO Schwarz brand from Wayne, N.J.-based Toys ‘R’ Us Inc. on undisclosed terms in October.
ThreeSixty said it plans to create a division to oversee brand management. The company designs, makes and distributes consumer products to major retailers in some 70,000 retail stores.
It had licensed the Sharper Image brand from Iconix Brands since 2008 to sell radio-controlled drones, men’s gifts and gadgets, electronics, slippers and home decor.
Iconix owns nameplates for women’s and men’s products, entertainment and home industries. Sharper Image distributes lifestyle, electronics, wellness, fitness and travel products through a variety of department and specialty stores.
“Sharper Image is synonymous with innovation and unique, ‘giftable’ product designs offered across a wide variety of consumer product categories,” said ThreeSixty Group Co-Founder Kirk McLean.
He said ThreeSixty plans investments in “product development, design and marketing” to include new product lines and geographic markets.
ThreeSixty employs 55 locally and 372 firmwide.