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Sequential signs deal to acquire Joe's Brand
09
Sep '15
America's Sequential Brands Group, Inc., which owns, promotes, markets, and licenses a portfolio of consumer brands in the fashion, active, and lifestyle categories, has announced that it has signed a definitive agreement to acquire Joe's Jeans Inc. and certain other related assets for a total purchase price of approximately $67 million.

In tandem with the acquisition, the company announced the signing of a long-term licensing agreement for all of Joe's brand's core categories with Global Brands Group Holding Limited, one of the world's leading branded apparel, footwear, fashion accessories, and lifestyle product companies. The long-term licensing agreement will become effective upon closing of the acquisition, it said in a statement.

The Joe's brand joins Global Brands' extensive portfolio of fashion and lifestyle brands. Under the licensing agreement, Global Brands will design, produce, and distribute products across multiple categories including womenswear and menswear. Sequential will oversee the global marketing strategy for key brand initiatives. Brand founder Joe Dahan will continue to lead product design and brand marketing as Creative Director.

Bruce Rockowitz, CEO and Vice Chairman of Global Brands Group Holding Limited, said, “Joe's is an important addition to our brand portfolio in a key fashion category. Denim is trending strongly right now and we are excited about the future growth opportunities for the brand."

“Joe's is a natural fit for Sequential as the brand seamlessly integrates into our fashion vertical,” said Yehuda Shmidman, CEO of Sequential. “In addition, with a strategic global licensing partnership secured with Global Brands and Joe Dahan's renewed commitment to the brand's future, we believe that all together, we have a winning team in place to grow the Joe's brand around the world.”

Joe Dahan, founder of Joe's Jeans, added, "I am thrilled about the partnership with Sequential and look forward to keeping the heritage of the Joe's Jeans brand as we enter our next phase of growth together with Global Brands and their extensive global platform.”

Founded in 2001, Joe's is a casual chic global lifestyle brand synonymous with classic, modernized wardrobe staples ranging from premium denim to handcrafted collection pieces, and from contemporary accessories to footwear. With over 12 years of influence in the fashion industry, Joe's has remained true to its DNA throughout its expansion, embracing fashion and innovation through the creation of a fully faceted line for men, women and kids.

The first range of Joe's products produced in collaboration with Global Brands will launch in Spring 2016. (SH)

Fibre2Fashion News Desk – India

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