Business
Xcel Brands Acquires LOGO by Lori Goldstein
Leading Fashion Brand Presents Significant Growth Opportunities for Xcel Brands NEW YORK, April 5, 2021 /PRNewswire/ -- Xcel Brands, Inc. (NASDAQ: XELB) today
About this update from Xcel Brands, Inc
[{"type":"text","content":"Leading Fashion Brand Presents Significant Growth Opportunities for Xcel Brands\n\n\nNEW YORK, April 5, 2021 /PRNewswire/ -- Xcel Brands, Inc. (NASDAQ: XELB) 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.\n\n \n \n \n \n \n \n\n \nLeading Fashion Brand Presents Significant Growth Opportunities for Xcel BrandsDesigned 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. \n\"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.\nThe 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.\n\"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.\"\nAs 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 tran...