Charlotte Russe Sells Brand
Charlotte Russe has sold its flagship brand and Peek Kids brands to different entities, according to Retail Dive.
The Charlotte Russe brand and its related intellectual property were sold to North American fashion company YM Inc. The Peek Kids brand and its related intellectual property were sold to women’s and children’s apparel manufacturer and marketer Mamiye Brothers, according to Retail Dive. The amount of each transaction was not disclosed.
The remaining nine Peek Kids stores will close within weeks, and in June, Mamiye will launch a growth plan with a focus on digital direct-to-consumer sales and wholesale.
Last month, a bankruptcy judge gave Charlotte Russe clearance to liquidate and shutter it hundreds of stores, Retail Dive reports.