White & Case LLP acted as legal counsel to the Company. Sequential has obtained committed financing from GSO Capital Partners LP, an affiliate of Blackstone Group. The first range of Joe's® products produced in collaboration with Global Brands will launch in Spring 2016. Joe's® is available coast to coast at fine department stores and specialty boutiques in the USA and internationally throughout Europe, Asia, Canada and Latin America at stores such as Nordstrom's, Harrods, Liberty, Galeries Lafayette, Le Bon Marché, Printemps and Tsum. 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. 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."įounded 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. "The combination of Global Brands' extensive retail relationships, strong design skills and distribution capabilities and Joe's popularity sets the stage for taking the brand to a new level." "We are delighted to be working with our partners at Sequential," said Dow Famulak, President and Chief Operating Officer of Global Brands Group Holding Limited. "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's is a natural fit for Sequential as the brand seamlessly integrates into our fashion vertical," stated Yehuda Shmidman, CEO of Sequential. Denim is trending strongly right now and we are excited about the future growth opportunities for the brand." Brand founder Joe Dahan will continue to lead product design and brand marketing as Creative Director.īruce Rockowitz, Chief Executive Officer 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. Sequential will oversee the global marketing strategy for key brand initiatives. Under the licensing agreement, Global Brands will design, produce, and distribute products across multiple categories including womenswear and menswear. The Joe's brand joins Global Brands' extensive portfolio of fashion and lifestyle brands. The long-term licensing agreement will become effective upon closing of the acquisition.Ī photo accompanying this release is available at In tandem with the acquisition, the Company announced the signing of a long-term licensing agreement for all of the brand's core categories with Global Brands Group Holding Limited ("Global Brands" SEHK Stock Code:787), one of the world's leading branded apparel, footwear, fashion accessories, and lifestyle product companies. (NASDAQ:SQBG) ("Sequential" or the "Company") announced today that it has signed a definitive agreement to acquire the Joe's brand (the "Brand") and certain other related assets for a total purchase price of approximately US$67 million. 8, 2015 (GLOBE NEWSWIRE) - Sequential Brands Group, Inc. Long-Term Licensing Agreement With Global Brands Signed for Core Categoriesīrand Founder Joe Dahan to Continue Leading Product Design as Creative Director Sequential Signs Definitive Agreement to Acquire Joe's Brand
0 Comments
Leave a Reply. |