Iconic Brands Inc (OTCMKTS:ICNB) On The Rebound

Iconic Brands Inc (OTCMKTS:ICNB) is on the rebound after pulling back due to some investors booking profits, including some of our subscribers. We alerted our readers on December 23 that things were heating up for ICNB. You can read our full coverage here.ICNB was a name that we had on our radar for all of 2016 and we were just waiting to see who the celebrity spokesperson would be for its Bellissima Prosecco Italian sparkling wine. Once we found out it was Christie Brinkley, we knew that the bull run was just getting started. On December 23, ICNB was trading at just $.0030 a share. Shares rose as high as $.0339, delivering gains of 1000% and making ICNB one of the biggest winners over the past few months. With shares on the rebound, it's time for another look.First up, a little background on the company. Iconic Brands Inc is a beverage company with the highest expertise of developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic Brands markets and places products into national distribution through long standing industry relationships. Iconic is also a leader in “Celebrity Branding” of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities.The Bellissima Prosecco brand first launched in 10 states. Now, the brand is approved in 29 states and has already shipped in 15 states, including an initial order today for 620 cases as an opening order to the Tennessee market. Additionally, the company has begun negotiations with several parties as it relates to introducing Bellissima in certain International Markets.Earlier this month, Iconic said that it expected to finalize the distribution agreement with Young's Market in California, and begin immediate distribution to Bevmo! for an initial exclusive period for two of its Bellissima expressions. Iconic will also have its third expression, Zero Sugar Zero Carb, available initially on an exclusive basis with Erewhon Natural Foods Markets, and thereafter will open distribution to additional retailers throughout the State of California. The company also announced that it received a formal agreement with the Bucca di Beppo chain of restaurants to start in April. The Bucca di Beppo chain represents locations in over 26 states, and over 100 restaurants.In February, Iconic entered the Chicago market as well as statewide with the brand's exclusive distributor in Illinois, The Winebow Group. The company also announced that Bellissima is available at Binnys Beverage Depot, both online and in store. Binnys is the largest independent retailer in the Midwest with over 30 locations. Due to strong demand after their opening order, The Winebow Group moved into a Direct Import ordering platform, ordering a full container representing over 2100 cases.In January, Iconic said that it finished the last 8 weeks of 2016 with sales nearing 7,000 cases. The company is positioned with current monthly allocated capacity of 30,000 cases which can be increased based on demand, and an additional run of custom bottles had been placed for approximately 100,000 pieces in anticipation of the phase II launch.Currently trading with a market cap of $13 million, ICNB is an exciting story among small caps. Prosecco is right now the hottest drink category in the United States. Sales have been rising 33% in each of the last three years. With a name like Christie Brinkley behind Bellissima, ICNB is on the verge of a major sales push. We believe it’s only a matter of time before a large drinks company like Diageo plc (NYSE:DEO) makes a bid for ICNB. Until then, enjoy the ride. The current rebound looks to be just getting started.We will be updating our subscribers as soon as we know more. For the latest updates on ICNB, sign up below!Disclosure: We have no position in ICNB and have not been compensated for this article.