Bebe Stores & Bluestar acquire Brookstone brand

31 Oct '18

2 min read

Courtesy: Bebe

Bebe Stores, Inc, a global retailer of women's apparel, has partnered with Bluestar Alliance to acquire Brookstone brand and related assets. The acquisition has opened the way for expanding the wholesale distribution of Brookstone products to some of the largest retailers in the US and across the world and will also keep open 30 Brookstone airport stores.

Brookstone, the iconic American brand founded over 50 years ago, is known for innovative and solution-oriented products, most notably in the entertainment, wellness, home, and travel categories.

"Brookstone is a unique brand with strong growth potential," stated Manny Mashouf, CEO of Bebe Stores. "We are pleased to expand our already successful relationship with Bluestar and can see the potential synergies with other brands in their portfolio. This investment, a direct result of our partnership with B Riley Financial, which sourced the deal, will create a strong platform for future growth and enhance our ability to generate free cash flow to maximise our dividends to shareholders."

"We are pleased to continue to work closely with Bluestar," said Nick Capuano, chairman of Bebe Stores. "This investment represents our combined efforts to create value for Bebe stores by expanding the scope of our operations, and we will continue to look for opportunities that leverage our tax assets and create value for our shareholders."

Founded by Joseph Gabbay and Ralph Gindi in 2006, Bluestar owns, manages, and markets a portfolio of consumer brands that span across many tiers of distribution from luxury to mass market. Its portfolio consists of major department store retail brands including Tahari, Bebe, Kensie, etc.

The firm's investment mandate is to identify and purchase consumer brand companies where it can leverage the brand equity and expand its current categories to a broader consumer base. To facilitate the overall strategy Bluestar relies on its branding/marketing knowledge, extensive relationships with retail management, strategic partnerships and brand licensing manufacturing entities.

"We are excited to begin renewing Brookstone's innovation and its flow of new products to the market," stated Joseph Gabbay, CEO of Bluestar. (PC)

Fibre2Fashion News Desk – India

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