Xcel Brands Acquires LOGO by Lori Goldstein
NEW YORK, April 5, 2021 /PRNewswire/ -- Xcel Brands, Inc. (NASDAQ: XELB) today announced it has entered into an agreement to acquire the Lori Goldstein brands, including LOGO™ by Lori Goldstein. The acquisition focuses on growing the popular brand through a multi-channel approach including Live streaming, e-commerce and global direct-response television networks, and expanding the business into new products and categories.
Designed to bring style to the masses, LOGO by Lori Goldstein launched in 2009 and has been profitable since inception. Boasting more than $1.5 billion in historical retail sales, the brand offers multiple categories such as casual womenswear, outerwear, eyewear, jewelry and activewear.
"Xcel Brands continues to provide brands with the operating and technology platform needed to succeed in a dynamic and complex market. Our investment in LOGO by Lori Goldstein reinforces our commitment to help propel the industry forward by optimizing the business outcomes of our brands through a true omni channel distribution strategy and by reimagining shopping, entertainment and social media as one thing," said Robert W. D'Loren, Xcel Brands' Chairman and Chief Executive Officer.
The acquisition presents highly achievable growth opportunities for Xcel Brands under the LOGO brand including product merchandising and design upgrades to drive growth and developing a material business across multiple channels of distribution and through brand collaborations.
"This new venture came as a natural partnership, with a common goal to drive robust expansion and bring the LOGO brand into its next phase," said Lori Goldstein, Stylist & Designer. "It will position us for significant growth and to be a leader across multiple channels of distribution. My inspiration for designing a lifestyle brand coupled with Xcel Brand's distribution and marketing capabilities and elevated portfolio is a win-win for both parties."
As digital and social media platforms enlighten consumers to be more style savvy, women now long for greater creativity, experimentation, and meaning in the clothes they wear. With the shopping landscape continuing to adapt and transform, retailers are capitalizing on the opportunity to cater to all women of all ages looking for inclusive, accessible and individualistic style in categories ranging from apparel, eyewear, jewelry, home, and everything in between. By joining forces with the LOGO™ brand, Xcel Brands plans to expand on this opportunity by tapping into the stylist turned designer's world of experience listening, connecting to and designing for all women.
LOGO by Lori Goldstein joins Xcel Brand's portfolio of brands including Isaac Mizrahi, Judith Ripka, Halston, C. Wonder and Longaberger.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ:XELB) is a media and consumer products company engaged in the design, production, marketing, wholesale, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. The company has sold in excess of $3BB US in retail sales through live streaming on TV. Xcel was founded by Robert W. D'Loren in 2011 with a vision to reimagine shopping, entertainment, and social media as one. Xcel owns the Isaac Mizrahi, Judith Ripka, Halston, and C. Wonder brands, and it owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through interactive television, brick-and-mortar retail, e-commerce and peer to peer channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant livestream production, merchandising, design, production, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With an experienced team of professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com
About LOGO by Lori Goldstein
Lori Goldstein helped the fashion industry recognize the value and influence of a visionary stylist by telling powerful, transformative, and authentic stories through the static image. After 35 years behind the camera, Lori ventured in front of it in 2009 when she launched LOGO by Lori Goldstein. An exclusive collection for QVC, LOGO was born from Lori's lifelong passion for layering clothes and her "anything goes with everything" approach to fashion. LOGO is a sophisticated lifestyle brand that embraces Lori's aesthetic and speaks to everyday women. LOGO draws inspiration from the beauty of women of all ages and sizes and gives them the tools and fashion pieces to be their most fabulous selves.
A pioneer in the field, Lori Goldstein was one of the s world's first stylists, whose interpretations of fashion and beauty have produced some of the most groundbreaking and iconic images in fashion and popular culture over the last four decades. She began her career as a fashion stylist in the early 80s working with Annie Leibovitz. Throughout their 20-year partnership, they collaborated on the American Express "Portraits" campaign, which was named "Campaign of the Decade" by Advertising Age and the Gap's "Individuals of Style" ad campaign, one of the first ad campaigns dedicated to celebrating the style of celebrities and leaders from the arts and culture community. A longtime contributor to Vanity Fair, Lori worked with Leibovitz on many memorable covers, including the culture-jolting cover of a nude and pregnant Demi Moore. In the 90s, Lori started working with leading fashion photographer Steven Meisel. Their creative collaboration has produced nearly 70 covers of Italian Vogue. Goldstein and Meisel's Valley of the Dolls-inspired campaign for Versace in 2000 was an epic piece that led to an exhibition of the classic photo series titled "Four Days in L.A.: The Versace Pictures." Her work with Madonna on the music video "Take a Bow" won her a VH1 Fashion and Music Award for Best Stylist. Lori authored Style Is Instinct, an anthology of her work including over eighty astounding images that she created in collaboration with the world's finest photographers, published in 2013.
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