Stylist’s Clothing and Jewelry Brand Sells for $3.6M
April 07, 2021RAPAPORT... Xcel Brands, which owns several apparel labels, has acquired Logo by Lori Goldstein, a lifestyle brand encompassing clothing and jewelry.
Goldstein, an American stylist and designer, launched Logo in 2009. The brand has since clocked up retail sales of more than $1.5 billion, Xcel said Monday. The investment will help enhance the brand’s product merchandising and design, according to the new owner.
The selling price is $3.6 million, according to an Xcel filing with the Securities and Exchange Commission (SEC). This could rise by $12.5 million, depending on royalty payments.
New York-based Xcel specializes in acquiring and developing apparel retail brands. Its portfolio includes Isaac Mizrahi, Judith Ripka, Halston, C. Wonder and Longaberger.
“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,” Goldstein said. “It will position us for significant growth and to be a leader across multiple channels of distribution.”
Image: Lori Goldstein. (Lori Goldstein/Facebook)
Article originally published on Diamonds.net here