Bluestar Alliance, LLC. & Tahari ASL LLC announced that they have closed on their Asset Purchase Agreement to acquire the Catherine Malandrino intellectual property assets from Tahari ASL, LLC for an undisclosed sum. The New Company will be a joint venture led by Bluestar Alliance in partnership with Elie Tahari, Arthur Levine & other investors.
"This is an exciting acquisition for Bluestar," commented Joseph Gabbay, CEO, Bluestar Alliance. "The Catherine Malandrino brand is a perfect fit to our current portfolio. There is clearly a need in the marketplace for a seasoned brand which can be expanded globally beyond apparel, such as accessories and home.
Bluestar continues to demonstrate our ability to react to the needs of the retail community. Our strength in delivering the right licensing partners and our creative and financial commitment to marketing accelerates growth to levels that make sense for a retailer to support a lifestyle brand approach to the brands we partner in."
Ralph Gindi, President and COO of Bluestar Alliance, commented "We look forward to growing the Catherine Malandrino brand into an international power house. We are exploring exciting opportunities with other strategic partners that will include the roll out for retail stores and wholesale luxury collections for the Catherine Malandrino brand." The contemporary line Catherine Catherine Malandrino will continue to be manufactured and distributed by Tahari ASL.
"We look forward to building Catherine Malandrino into a global lifestyle brand creating destination shop in shops with new and existing partners and extending the brand into many other categories and international markets," added Arthur Levine, CEO of Tahari ASL LLC.
CoMetrics Partners LLC was the financial advisor to Tahari ASL LLC on the transaction.
About Bluestar Alliance, LLC
Bluestar Alliance, LLC, founded in 2007 by Joseph Gabbay and Ralph Gindi, owns, manages and markets a growing portfolio of consumer brands including Kensie, Mac + Jac, Joan Vass, Kooba, Yak Pak, English Laundry, Hot Kiss, First Kiss,and Harve Benard. Previous portfolio inclusions are Liz Lange, The Sharper Image and Ron Chereskin. Bluestar a brand management company licenses its brands to a network of best in class strategic manufacturers and retailers both in the U.S. and internationally.