Iconix Brand Group is selling another brand in its portfolio order to further reduce its indebtedness.

The company said Friday it is selling the Sharper Image and related intellectual property to ThreeSixty Group, the brand’s largest licensee, for $100 million in cash. Proceeds, plus additional cash, will be used to repay $115 of debt, including a portion of the senior tranche of its securitization facility and a portion of the company’s senior secured term loan.

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