Concept One Accessories has acquired the FUL brand from Sequential Brands Group.
Under the terms of the agreement, Concept One now holds the rights to the FUL brand and all of its associated IP.
“FUL has been our largest and most important license for the past three years,” says Sam Hafif, chief executive officer, Concept One. “We have been focused on positioning the brand as a stylish, and durable bag brand for young adults and professionals.”
Sales of FUL direct to the consumer have been growing 250% per year for the past three years. “We are extremely fortunate to have the opportunity to buy and own such a well-regarded brand,” says Hafif.
Since November 2014, Concept One has been the global master license for FUL luggage and accessories and has been working to expand the distribution and presence of the brand.
The company, best known for its bags. was established in 2006 in partnership with musician Justin Timberlake.
The financial terms of the deal were not disclosed.