The Happy singer and his BBC Miami partners have repurchased Iconix Brands Group Inc.’s 50 per cent interest in the company after executives announced plans to "rationalise smaller noncore assets in the Iconix portfolio".

The IBG bosses claim BBC and Ice Cream represented less than one per cent of their total business.

Williams’ spokeswoman tells the musician and his partners sought the opportunity to reacquire full control of the brands to continue their expansion.

Pharrell and Nigo, the founder of clothing label A Bathing Ape (BAPE), founded BBC and Ice Cream in 2005. Jay Z teamed up with Iconix bosses to invest in the brand in 2011.