The Thread Shop, the merchandising division of Sony Music Entertainment, has announced an agreement to acquire U.K.-based independent music merchandising company Probity Europe.
Under the agreement, Probity will become a new entrepreneurial division of The Thread Shop and continue to be led by Probity founder Mark Stredwick. He and the existing Probity team will continue to foster the ongoing relationships with their roster of music artists such as Metallica, Noel Gallagher, Oasis, Paloma Faith, Rage Against the Machine, Robert Plant and Van Morrison.
“We are very pleased to be further enhancing the reach and competitive capabilities of The Thread Shop around the world with the welcome additions of Mark Stredwick and the Probity team,” says Howard Lau, head, The Thread Shop. “Probity is an established independent leader in the European merch market representing some of the world’s most iconic music artists. Together we can offer our artist clients and the music community an even more robust set of merchandising opportunities to complement their music revenues, branding and marketing.”
In addition, The Thread Shop and Probity teams will jointly leverage their capabilities to drive new business opportunities around the world. Stredwick will report to Howard Lau, head, The Thread Shop.
With this agreement, Sony Music’s in-house merchandising business, home to artists including The Beatles, Camila Cabello, Jimi Hendrix, Maluma, Led Zeppelin, Lil Nas X, P!nk and Rosalia continues to strengthen the scope of its operations globally as part of the services and solutions it offers to the artist community. In addition to the ongoing organic growth of its business and roster over the last several years, The Thread Shop expanded its operations in 2019 with the acquisition of the music merchandise division of theatrical production and entertainment merchandising company The Araca Group.
“We are delighted to fully cement the organic relationship we had already developed with Howard and Sony Thread Shop,” says Mark Stredwick, founder, Probity. “The deal with Sony allows our growing roster to tap into more opportunities globally and benefit from innovative and creatively driven merchandising programs that Thread Shop deliver with such passion.”