Pharrell has regained full ownership of the Billionaire Boys Club and Ice Cream streetwear brands. Women's Wear Daily reports that Pharrell and his partners at BBC Miami have repurchased Iconix Brands Group Inc.'s 50 percent stake in BBC Ice Cream LLC, the parent company of the Billionaire Boys Club and Ice Cream brands. Iconix acknowledged the ownership change in a statement.

"The sale of our interest in BBC and Ice Cream was a strategic decision to rationalize smaller noncore assets in the Iconix portfolio, allowing us to focus our time and resources on the larger cash flow generating brands," an Iconix Brands Group spokeswoman said. "BBC and Ice Cream represented less than 1 percent of our total business.”

Pharrell's spokeswoman told WWD that the acclaimed producer and his business partners wanted to regain full control of their brands to continue the expansion, growth and licensing opportunities of the brands.

The Billionaire Boys Club and Ice Cream brands were founded in 2005 by Pharrell and Nigo, the founder of the famous clothing brand BAPE. BBC is currently sold in boutiques and department stores around the world. It also maintains flagship stores in such cities as New York City, London and Tokyo.

WWD also reports that Pharrell's next fashion venture will come via a new collection with the company Happy Sock. The sock collection will be available exclusively at Neiman Marcus beginning in April.

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