“This acquisition extends our capability to offer character, lifestyle, fashion, sport and private label legwear,” Dow Famulak, president and chief operating officer of Global Brands, said in a statement, calling it “a step in further enhancing Global Brands’ competitive strength in accessories.”
Bruce Rockowitz, chief executive officer and vice chairman, added, “The transaction represents a natural extension of our growth platform and aligns well with our strategy to focus on Global Brands’ core product categories. We are excited about the opportunities we can leverage to further grow not only our accessories business but also across our entire portfolio of brands.”
Founded in 1994 and based in New York, PS Brands’ portfolio of licenses includes Disney, Nickelodeon, Hasbro, Fila, Head Sport, Kate Spade, Nanette Lepore and Kensie. Its products are sold through multiple distribution channels around the world, from mid-tier and better department stores to mass, specialty and off-price.
It’s the latest in a string of moves made by Global Brands to grow its geographical footprint and add to its existing platforms through both licenses and acquisitions since it spun off from Li & Fung in July 2014.
Earlier this year, the company expanded its denim business by inking two long-term licensing deals—one with Iconix and Buffalo International, the other with Sequential Brands for Joe’s Jeans—while a similar agreement with Authentic Brands Group offered Jones New York a new lease on life.
Speaking in August during Global Brands’ half-year earnings announcement, Rockowitz noted, “Consumer appetite for leading American affordable luxury brands remains strong, especially as consumers’ demand for these brands has been fueled by the widespread access to the online arena that makes these brands more popular than ever globally.”