Stikeleather Apparel gained another ally in the online fashion sector.
The LA-based contemporary menswear company announced Wednesday that it acquired White Plum, Inc., a boutique women’s e-commerce site. The acquisition will allow White Plum customers to experience Stikeleather’s patented magnetic closure technology to create seamless designs.
Managing director of Belmont Acquisitions Group John Tullo advised this financial arrangement, which could increase overall revenues for both companies.
“When Jon Tullo introduced the idea of acquiring White Plum to me, I immediately saw the vision to move the company to Los Angeles to take advantage of the depth of talent in the garment industry and also the opportunity to create innovative designs for young women that would eliminate the bumps and seams that other closure designs cause in women’s fashion,” said Stikeleather Holdings chief executive officer, Ian Stikeleather.
White Plum generates an annual revenue of $9.5 million through three main marketing channels, whiteplum.com, Zulily and Jane.com.
Stikeleather will further White Plum’s digital presence as well. There are plans for expanding the current marketing program and also taking the products into retail outlets nationwide. Sugar Plum, a children’s line, a plus-sized line and the White Plum Collection, an upscale line, are also in the works. New products will be added as well to White Plum, to satisfy the brand’s diverse consumer demographic.
The acquisition will relocate White Plum from its original headquarters in Modesto, California, to Stikeleather’s headquarters in Los Angeles very soon.