Helen of Troy, which owns brands including Hydro Flask, Drybar and Hot Tools, on April 25 announced one of its subsidiaries had acquired Curlsmith parent company Recipe Products for $150 million in cash.
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The business could reach annual net revenue in sales to end consumers of between $1 billion and $2 billion-plus, the company also said. Executives said they expect the acquisition to be moderately accretive this year and more so in future years. The company’s near-term plan for the brand is, in a word, expansion - in digital, retail, wholesale, geography, categories and licensing. In 2015 the company entered into a joint venture that gave it the rights to Lagerfeld’s apparel and accessories in the North America market, and the following year it bought a 19% minority stake.
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In taking full ownership of the label, G-III knows exactly what it’s in for.
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G-III Apparel Group on May 2 said it will take full ownership of the Karl Lagerfeld brand by acquiring the remaining 81% interest for 200 million euros in cash ($210 million). The deal makes Karl Lagerfeld a wholly owned subsidiary of G-III. The company purchased the remaining stake from a group of investors and the transaction was funded in cash. G-III in June announced it completed its acquisition of Karl Lagerfeld. The tie-up will allow the company to leverage back office synergies for technology, e-commerce, digital marketing, sourcing, and raw material collaboration for the two companies, according to GoGlobal. And it will be featured as a portfolio brand on the Janie & Jack platform. GoGlobal will invest in its digital capabilities, including AI and predictive analytics, for example. While the brand will stay based in the Milan area and initially remain focused on its Italian customer base, some things will change. It’s also sold at Milan-based department store La Rinascente and at 300 independent third-party retailers, per the release. The children’s apparel label boasts more than 150 owned and franchise stores in Italy and robust e-commerce. Brums Milano was founded in 1951 and designs, markets and distributes children's apparel and accessories under the Brums and MEK banners, according to a GoGlobal press release. When the deal closes, The Yes app and website will be shut down to focus on integrating the technology into Pinterest’s platform.īrand strategy firm GoGlobal, which last year bought upscale children’s apparel brand Janie & Jack from Gap Inc., is furthering its ambitions in the space with the addition of premium Italian brand Brums Milano, its first acquisition in Europe. Bornstein was previously the chief operating officer of fashion retailer Stitch Fix, as well as the chief marketing and digital officer for Sephora.Īlthough The Yes was made for fashion, its brand relationships and shopping expertise could be used for other categories Pinterest focuses on, including home, beauty and food, the companies said. The Yes was founded by CEO Julie Bornstein in 2018. The news from Pinterest builds on the list of social shopping features it has implemented in order to become a shopping destination. Pinterest in June announced an agreement to acquire The Yes, an AI-powered shopping platform for fashion, according to a press release. The social image sharing platform said the acquisition “will help accelerate Pinterest’s vision for it to be the home of taste-driven shopping,” per a press release. Pinterest announced the completion of its acquisition of The Yes on June 10.