Bendon will develop and sell intimates, sleepwear, swimwear and more under the Frederick’s of Hollywood brand online.
The Frederick’s of Hollywood brand is owned by Authentic Brands Group.
FOH Online was founded by and given funding from an affiliate of Bendon. Under the deal, Bendon, which creates swimwear and intimates under license and for its owned brands, will acquire all outstanding common stock of FOH Online in exchange for forgiving of debt owed by FOH to Bendon. Bendon already helps to manage FOH Online’s brand in exchange for a management fee.
Bendon will now take control of FOH Online’s existing license to develop and sell intimates, sleepwear, loungewear, swimwear, accessories and costumes under the Frederick’s of Hollywood label online.
“Frederick’s of Hollywood is an iconic lingerie brand with tremendous brand recognition that we believe will be an excellent complement to our portfolio,” says Justin David-Rice, executive chairman,
“In addition, we believe that there is great opportunity to leverage our well-established global wholesale and retail distribution channels as we look to further expand the Frederick’s of Hollywood brand throughout the U.S.,” continues Davis-Rice. “Overall, we are excited to bring the Frederick’s of Hollywood online business into the Bendon portfolio, and expect that this acquisition will enhance shareholder value for the combined Naked and Bendon business at closing and over the long-term.”
Additionally, Naked, Bendon and Bendon Group Holdings (Holdco) recently entered a merger agreement, which will see both Naked and Bendon become wholly owned subsidiaries of Holdco, a newly formed Australian holding company.
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