Xcel Brands, Inc. today announced it has entered into an agreement to acquire the Lori Goldstein brands, including LOGO™ by Lori Goldstein. The acquisition focuses on growing the popular brand through a multi-channel approach including Live streaming, e-commerce, and global direct-response television networks, and expanding the business into new products and categories.
Designed to bring style to the masses, LOGO by Lori Goldstein launched in 2009 and has been profitable since inception. Boasting more than $1.5 billion in historical retail sales, the brand offers multiple categories such as casual womenswear, outerwear, eyewear, jewelry, and activewear.
“Xcel Brands continues to provide brands with the operating and technology platform needed to succeed in a dynamic and complex market. Our investment in LOGO by Lori Goldstein reinforces our commitment to help propel the industry forward by optimizing the business outcomes of our brands through a true omni channel distribution strategy and by reimagining shopping, entertainment, and social media as one thing,” said Robert W. D’Loren, Xcel Brands‘ Chairman and Chief Executive Officer.
The acquisition presents highly achievable growth opportunities for Xcel Brands under the LOGO brand including product merchandising and design upgrades to drive growth and developing a material business across multiple channels of distribution and through brand collaborations.
“This new venture came as a natural partnership, with a common goal to drive robust expansion and bring the LOGO brand into its next phase,” said Lori Goldstein, Stylist & Designer. “It will position us for significant growth and to be a leader across multiple channels of distribution. My inspiration for designing a lifestyle brand coupled with Xcel Brand’s distribution and marketing capabilities and elevated portfolio is a win-win for both parties.”
As digital and social media platforms enlighten consumers to be more style-savvy, women now long for greater creativity, experimentation, and meaning in the clothes they wear. With the shopping landscape continuing to adapt and transform, retailers are capitalizing on the opportunity to cater to all women of all ages looking for inclusive, accessible, and individualistic style in categories ranging from apparel, eyewear, jewelry, home, and everything in between. By joining forces with the LOGO™ brand, Xcel Brands plans to expand on this opportunity by tapping into the stylist turned designer’s world of experience listening, connecting to, and designing for all women.
LOGO by Lori Goldstein joins Xcel Brand’s portfolio of brands including Isaac Mizrahi, Judith Ripka, Halston, C. Wonder, and Longaberger.