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Titan Global Holdings acquires footwear labels
04
Jan '08
Titan Global Holdings Inc, a high-growth diversified holding company announced that Titan Apparel Inc the Company's recently formed wholly owned subsidiary, purchased the majority of all of the assets of Global Brand Marketing, Inc. (GBMI), including inventory, accounts receivable and intellectual property assets.

Titan expects to aggressively and profitably market brands worldwide with high quality and well designed products supported by strong and distinct marketing strategies.

GBMI, located in Santa Barbara, CA, owns the popular brands Dry-shod, No Mass, Mehandi and Funflopps. Additionally, GBMI has been the global licensee for well-known brands Nautica, Sean John and 7ForAllMankind.

GBMI operated under the banner Global Feet and sold its footwear products in 130 countries worldwide. Over its history GBMI has won dozens of footwear industry awards. Since its inception in 1996 GBMI sold over $1 billion worth of footwear.

"GBMI and its founder Killick Datta enjoyed a storied history and in the process have aggregated a highly talented and seasoned management team," said Kurt Jensen, Chairman of Titan Apparel, Inc. "We see exceptional long-term growth opportunities from this exciting new acquisition. We are looking forward to building on the past success that Killick and his team have achieved as a means to building additional value for our shareholders."

In addition to the asset purchase, Titan Apparel has hired the complete core of executives currently leading GBMI, including Killick Datta, its founder. Mr. Datta was also named President and Chief Executive Officer of Titan Apparel. Shortly after the first of the year, Mr. Datta will outline the strategic initiatives and vision for this Titan unit.

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