Related Party Transactions

9 Months Ended

Sep. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions

10. Related Party Transactions

The Candie’s Foundation

The Candie’s Foundation is a charitable foundation founded by Neil Cole, the Company’s former Chairman and Chief Executive Officer, for the purpose of raising national awareness about the consequences of teenage pregnancy. As of September 30, 2015, the Company owed the Candie’s Foundation less than $0.1 million, and as of December 31, 2014, the Candie’s Foundation owed the Company less than $0.1 million. The Company intends to pay-off the entire amount due to the Candie’s Foundation during 2015.

Travel

The Company recorded expenses of $-0- in the Prior Year Quarter and $95 in the Prior Year Nine Months, for the hire and use of aircraft solely for business purposes owned by a company in which the Company’s former chairman, chief executive officer and president was the sole owner. There were no such expenses in the Current Quarter or Current Nine Months. Management believes that all transactions were made on terms and conditions no less favorable than those available in the marketplace from unrelated parties.

Other

The Company incurred advertising expenses with Complex Media, Inc. to promote certain of the Company’s men’s brands.  The Company owns a minority interest in Complex Media as discussed in Note 3.  There were no advertising expenses with Complex Media, Inc. for the Current Quarter as compared to less than $0.1 million in the Prior Year Quarter. There were no advertising expenses with Complex Media for the Current Nine Months as compared to less than $0.1 million in the Prior Nine Months.  There were no related accounts payable as of September 30, 2015 as compared to $0.1 million as of December 31, 2014.  Management believes that all transactions were made on terms and conditions no less favorable than those available in the marketplace from unrelated parties.

During each of the Current Quarter, the Prior Year Quarter, the Current Nine Months and the Prior Year Nine Months, the Company incurred less than $0.1 million in consulting fees in connection with a consulting arrangement entered into with Mark Friedman, a member of the Company’s Board of Directors, relating to the provision by Mr. Friedman of investor relations services.  

The Company has entered into certain license agreements in which the core licensee is also one of our joint venture partners.  For the Current Quarter, Prior Year Quarter, Current Nine Months and Prior Year Nine Months, the Company recognized the following royalty revenue amounts:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2015		2014		2015		2014
Joint Venture Partner
Global Brands Group Asia Limited(1)	$	1,450	$	1,569	$	4,073	$	4,916
Buffalo International ULC		3,651		2,786		8,474		7,627
Rise Partners, LLC / Top On International Group Limited		524		882		4,967		1,746
M.G.S. Sports Trading Limited		163		224		439		493
Pac Brands USA, Inc.		81		201		392		773
NGO, LLC		202		—		605		—
Albion Equity Partners LLC / GL Damek		568		502		1,895		957
Anthony L&S		545		—		1,455		—
Roc Nation		100		100		300		300
	$	7,284	$	6,264	$	22,600	$	16,812

⁽¹⁾ Global Brands Group Asia Limited also serves as agent to Peanuts Worldwide for the Greater China Territory for Peanuts brands.  For the Current Quarter and Prior Year Quarter, Global Brands Group Asia Limited earned fees of approximately $0.6 million and $0.7 million, respectively, in its capacity as agent to Peanuts Worldwide.  For the Current Nine Months and Prior Year Nine Months, Global Brands Group Asia Limited earned fees of approximately $2.1 million and $2.0 million, respectively, in its capacity as agent to Peanuts Worldwide.