The news comes following years of acquisitions of brands such as Hi-Tec, Magnum and Tony Hawk. Apex’s addition of new IPs impacted its decision for the name change away from its original brand Cherokee, which will remain a part of its existing portfolio. Along with the name change, Apex will shift its strategic focus from a direct-to-retail licensing model to one that encompasses wholesale and retail licensing partnerships.
"As we expand our global capabilities platform, we are now positioned to build brands for specific retailers and to further develop existing brands that are already meaningful to our partners,” says Henry Stupp, chief executive officer, Apex Global Brands. “Apex reflects this more expansive vision. It marks the culmination of our portfolio and platform synergy and embodies the aspirations of our global licensing partners."
Apex’s changing strategy is propelled by recent licensing deals for brands such as Hi-Tec and 50 Peaks.