Business
Aritzia accelerates expansion into men's with acquisition of premium athletic wear brand Reigning Champ
Aritzia accelerates expansion into men's with acquisition of premium athletic wear brand ...
About this update from Aritzia, Inc.
[{"type":"text","content":"\n \n \n \n Aritzia accelerates expansion into men's with acquisition of premium athletic wear brand Reigning Champ\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 14, 2021\n \n /CNW/ - Aritzia (TSX: ATZ) (\"Aritzia\"), a vertically integrated, innovative design house offering Everyday Luxury online and in its boutiques, is accelerating its product expansion strategy for men's through a definitive agreement to acquire Reigning Champ, a leading designer and manufacturer of premium athletic wear. Aritzia will acquire 75% of Reigning Champ based on a total enterprise value of approximately\n \n $63 million\n \n , with the remaining 25% equity interest purchased through 2026.\n \n \n \n \n \n \n \n \n \n \"We're excited to welcome Reigning Champ. Rooted in classic, timeless athletic wear, their brand has been carefully curated for just short of fifteen years,\" said\n \n Brian Hill\n \n , Founder, Chief Executive Officer and Chairman of Aritzia. \"Building on Aritzia's strong start to fiscal 2022, this acquisition meaningfully accelerates our product expansion into men's while bringing incremental growth to our already surging women's eCommerce and U.S. businesses. Capitalizing on our world-class operational expertise and infrastructure, men's, merchandised independently, will become a meaningful part of Aritzia's platform through our Reigning Champ acquisition.\"\n \n \n Inspired by the culture of sport, Reigning Champ is a leading designer and manufacturer of premium athletic wear, utilizing unparalleled materials and craftsmanship. Rooted in classic, timeless garments, Reigning Champ is sold in the most influential digital and retail locations throughout the world, and as a result of the acquisition, will see an immediate benefit in tapping into Aritzia's best-in-class infrastructure and operational expertise.\n \n \n \"As an innovative design house offering exceptional experiences through its online and retail platforms, Aritzia's well-established track record as a successful direct-to-consumer b...