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Brand Collective Snapped Up by LK Group
Brand Collective has a new owner. LK Group has acquired the Superdry, Hush Puppies and Shoes&Sox house for an undisclosed amount.
Brand Collective houses brands including Superdry, Shoes & Sox, Mossimo, Elwood and Hush Puppies, among others. Brand Collective currently has more than 1,200 employees and operates across warehousing, product design, e-commerce, retail and wholesale. It currently has estimated annual sales of $280 million.
This is another acquisition for the Group after its equity firm Queens Lane Capital purchased PAS Group in October 2020.
Brands nested under the PAS Group acquisition include Review, Yarra Trail, Marco Polo and Black Pepper. The licences in its portfolio include Lonsdale, Everlast, Slazenger, Disney and Peter Rabbit. PAS Group filed for voluntary administration in May 2020.
“A major focus will be on building the online business which has expanded to 25 percent during COVID-19 and developing a single customer view through further marketing and online investment,” said Larry Kestelman, Chairman of Queens Lane Capital and Executive Group Chairman of the LK Group of the PAS Group acquisition.
“We will also look at new brand and license opportunities, category extensions, bolt-on acquisitions and the growth of our expertise in creating private label products for other brands servicing our current and future department store relationship.”
The shoe-focussed collection of retail brands will be a complementary addition to the womenswear-focussed brands of PAS Group.