It also is so important in this new world of transparency of price, where consumers are shopping, whether it be with the iPhones or the iPads, et cetera, and looking, popping in the price and seeing where it's cheaper in the mall. Here, when we have exclusive branding, the retailer gets to control price, gets to control the markdown cadence and doesn't have to worry about where the price of that product is so we believe that this model continues to flourish.Today, I believe, we have over 60 direct-to-retail deals around the world and growing. Roughly somewhere around $5.5 billion to $6 billion of our business is done through this type of relationship as it continues to grow. Iconix's big value-add is the marketing side. We have an ad agency that we are very proud of. That does a lot of great advertising and marketing for the retailers, where the retailer is focused on things like save money with better bull's eyes. We're focused on the individual brands in the stores to make them exciting and make people drive to the box.
Iconix Brand Group's CEO Presents At Goldman Sachs 2012 Global Retailing Conference (Transcript)
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