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Venturesome joins hands with MGM Resorts

Jun '19
Venturesome joins hands with MGM Resorts
Venturesome, unveiled by Elliott Azrak to create strategic acquisition, investment and licensing opportunities at the intersection of retail, media and pop culture, has joined hands with MGM Resorts International to debut Studio 54 brand collaborations. The partnership will launch with luxury lifestyle apparel and cosmetics brands in Fall/Holiday 2019.

The two have entered into an exclusive partnership. Venturesome has also become strategic partners with Global Brands Group and Centric Brands.

“Understanding early adoption of pop culture and how specific demographics respond to various cultural influences are key as we move into a more emotionally driven economy,” said Azrak. “Venturesome is strategically positioned at the forefront of the fast-changing pop culture space, where we are able to monetise these trends early and deliver revenue across all consumer industries.”

Azrak co-founded the largest character-licensed sleepwear company in the world, American Marketing Enterprises (AME), which worked with partners including Disney, Marvel, Warner Brothers, Viacom, Universal, Epic Games and others. In 2007, AME was acquired by Li & Fung USA (now Global Brands Group), where Azrak continued to grow the business to more than $6 billion in retail sales across the US, Europe and Asia over the next 12 years.

“During his tenure, Elliott was instrumental to the growth of Li & Fung’s global licensing business for fashion and entertainment brands,” said William Fung, Group chairman of Li & Fung and chairman of Global Brands Group Holding. “We plan to work closely with him to leverage his unique insight and knowledge to identify new partnerships within media, brands and entertainment.”

The Studio 54 brand has become high profile since the Netflix documentary of the same name was released in 2018. Michael Kors featured Studio 54 as the theme of its most recent fashion show. Venturesome’s additional brand collaborations with Studio 54 include a Sirius XM channel called Studio 54 Radio and an exhibition at the Brooklyn Museum called Studio 54: Night Magic that is scheduled to open in 2020. (SV)

Fibre2Fashion News Desk – India

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