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Mad Engine acquires urban streetwear brand LRG
27
Apr '17
Mad Engine, a leading full-service licensed apparel company, has acquired Lifted Research Group (LRG), known as the originator of what is now commonly known as 'streetwear'. Mad Engine, founded in 1987, has expanded substantially from a small t-shirt supplier in Southern California to a best-in-class design, merchandising and distributor of licensed apparel.
 
Catering to the needs of a wide spectrum of retailers, Mad Engine has diversified product offerings by launching additional divisions outside of its core male/kids apparel business to include female apparel and adult loungewear/underwear.
 
"The Mad Engine team is excited about the opportunity to bring LRG on board. It is a brand many of us grew up wearing and have supported over the years and feels like a natural fit for our first venture into branded apparel," said Danish Gajiani, CEO of Mad Engine. 
 
"The experience of the LRG team and sound infrastructure will serve as a solid foundation and platform to launch the branded division and bring on many additional brands in the future," Gajiani added.
 
"In the months we have spent getting to know each other Mad Engine has shown a commitment to LRG's future. I am optimistic about this new chapter which creates the ability to grow the LRG brand and creates new opportunities and experiences for those involved," said LRG co-founder Robert Wright. 
 
"Further, Intrepid's Apparel & Retail investment banking team was an invaluable advisor to us as we sought a partner that could provide us with value-added resources and capital commitments to continue accelerating the company's growth. We are excited to join the Mad Engine family," added Robert. 
 
LRG, which started in a 300-square foot warehouse in Santa Ana, California, was meant to be a brand that would be a bridge between skateboarding and hip hop, which at the time had not been done. (SV)

Fibre2Fashion News Desk – India


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