The Assets of No-Tie Shoelace Company HICKIES® are Available for Sale
Bids are Due May 20, 2021; Auction to Be Held May 25, 2021
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NEW YORK, April 19, 2021 /PRNewswire/ -- Hilco Streambank announced that it is seeking offers to acquire the assets associated with the HICKIES® no-tie shoelaces brand, including 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, and its design, durability, comfort, and affordability make it an attractive and superior product to both traditional laces and other no-tie alternatives. The product is adjustable and is ideal for athletic use or casual wear, and it provides ease of use and accessibility for children and individuals with limited mobility.
More than 6 million HICKIES® packs have been sold in 29 countries, generating sales in excess of $60 million. Partnerships with footwear and sportswear brands and luxury crystal glass brands have bolstered HICKIES'® sales worldwide. HICKIES'® products are sold through its ecommerce site, through Amazon (where its products have garnered thousands of 4- and 5-star ratings) 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," remarked Hilco Streambank Senior Vice President, 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 Thursday, May 20, 2021 at 5:00 p.m. Eastern Time (U.S.), and a sale of the property will be conducted pursuant to Article 9 of the Uniform Commercial Code on Tuesday, May 25, 2021 at 12:00 p.m. Eastern Time (U.S.), by Hilco Streambank as agent for Midcap Funding XVII Trust, a secured lender. Parties interested in learning more about the HICKIES® assets should visit https://www.hilcostreambank.com/hickies or contact the Hilco Streambank representatives listed below.
Senior Vice President
About Hilco Streambank: Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, and real estate and strategic capital equity investments.
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SOURCE Hilco Streambank
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