Brand manager buys Joe's and appoints Global Brands as master licensee.
In tandem with the acquisition, Sequential has also signed a long-term licensing agreement for all of the brand’s core categories with Global Brands Group. Under the licensing agreement, Global Brands will design, produce and distribute products for the brand across multiple categories including womenswear and menswear.
Sequential will oversee the global marketing strategy for key brand initiatives, and brand founder Joe Dahan will continue to lead product design and brand marketing as creative director.
“Joe’s is a natural fit for Sequential as the brand seamlessly integrates into our fashion vertical,” says Yehuda Shmidman, chief executive officer, Sequential. “In addition, with a strategic global licensing partnership secured with Global Brands and Dahan’s renewed commitment to the brand’s future, we believe that all together,
Sequential has obtained committed financing from GSO Capital Partners LP, an affiliate of Blackstone Group. White & Case acted as legal counsel to the Company. The transaction is expected to close in September 2015, and Sequential expects to provide further financial information at that time.
The first range of Joe’s products produced in collaboration with Global Brands will launch in Spring 2016.
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