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. 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). Hawks will report to Chief Marketing and IT Officer Kelly Cook. "Forever Bride means our brides will have unmatched access to the most premier local vendors while being able to put some fun back into the planning process." Forever Bride’s CEO and co-founder, Ashley Hawks, will join David’s Bridal and will lead strategic partnerships. "Forever Bride is unlike any other platform we have seen in our industry, and we believe this mobile-friendly, content-driven, and community-focused model is exactly where wedding planning is going," Jim Marcum, David’s Bridal's CEO, said in a statement. The community-based platform, which launched in 2010, connects brides with a curated list of wedding businesses. Acquisitionĭavid’s Bridal on May 3 said that it acquired the assets of online wedding resource Forever Bride, according to a company announcement. Additionally, under David’s Bridal, Anomalie will no longer create custom dresses. Rather, its assets, team and technology will be integrated into David’s Bridal digital offerings. Anomalie will not operate as a stand-alone company. The terms of the acquisition were not released. The startup’s co-founder and CEO, Leslie Voorhees Means, joined David’s Bridal to “lead the implementation of new strategic initiatives” as part of the deal.
Filterĭavid’s Bridal announced in mid-May that it acquired the assets of custom wedding dress company Anomalie.
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Subscribe to the Retail Dive free daily newsletterīy signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. From IPOs and acquisitions, to de-SPAC transactions and minority investments, below is our running list of major deals in the industry. But we’ve also witnessed a number of deals that have fallen apart, including Sycamore Partners backing out of its deal to buy Victoria’s Secret and Gap walking back on its plans to spin off Old Navy. The number of deals within the retail industry has been on the rise in recent years. From IPOs and acquisitions, to de-SPAC transactions and minority investments, here's our list of major deals from 2021 to present.
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