YM adds Charlotte Russe to portfolio of top fashion brands

03 Apr '19

2 min read

Pic: YM Inc

Charlotte Russe Holdings Corporation has sold the Charlotte Russe brand and related intellectual property to YM Inc (Sales), one of North America's largest fashion houses dedicated to delivering leading-edge fashion apparel at affordable prices. As a fashion brand for young women, Charlotte Russe offers affordable on-trend apparel, shoes and accessories.

“We are very excited Charlotte Russe will be joining the portfolio of brands at YM. This acquisition marries a beloved brand with a sophisticated retail platform and provides Charlotte Russe a path to grow in the future. We thank our loyal customers and employees for sticking by us through the past several months,” said Dayna Quanbeck, interim CEO of Charlotte Russe in a statement.

“Charlotte Russe is an iconic retailer and we could not be more excited to have them join the YM Group. We believe that this acquisition aligns well with our growth strategies and will further strengthen our mission to exceed customer expectations by delivering fast fashion at amazing value,” said Eric Grundy, CEO of YM Inc.

Earlier this year, Charlotte Russe had filed for bankruptcy protection and announced plans to close 94 of its 512 stores across the US. It had 8,700 employees and stores in every US state except Alaska at the time of its bankruptcy filing. It also owned 10 children’s clothing stores under the Peek brand, which it acquired in 2016. (RKS)

Fibre2Fashion News Desk – India

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