"After many years in the business, I see the acquisition as a partnership that will help the brand continue to grow and position itself in the new era of fashion," says Schwartz. "We have exciting opportunities on the horizon for 2022 and I am beyond thrilled about everything we plan to do."
The Five Oak team will manage the brand, but Allen will be creative director.
The acquisition provides Schwartz with a strategic partner that will manage licensing, source best-in-class manufacturers. This year, the brand will celebrate its 40th anniversary and incorporate into the larger marketing strategy of ramping up influencer seeding and collaborations, events, and
"We are excited to welcome Allen and the ABS by Allen Schwartz portfolio to the Five Oak family," says Simon Douek, chief executive officer, Five Oak Brand Management Advisors.
The acquisition of the ABS by Allen Schwartz brands is a milestone for Five Oak as we are growing our brand portfolio and have been seeking brands with the stature and track record of ABS by Allen Schwartz. Our years of experience consulting with brands and manufacturers has Five Oak poised to grow the brand's domestic and global reach while continuing to bring the fashion-savvy consumer a top-quality product with up-to-date styling at attainable price points."
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