American fashion stylist Lori Goldstein has entered into an agreement to sell her portfolio of brands—including the exclusive QVC line Logo by Lori Goldstein—to Xcel Brands.
Xcel Brands, a media and consumer products company engaged in the design, production, marketing, wholesale and direct-to-consumer sales of apparel, footwear, accessories, jewelry and home goods, announced the planned transaction Monday. The acquisition, it said, will focus on growing the Logo brand through a multi-channel approach, including livestreaming, e-commerce and global direct-response television networks, and expanding the business into new products and categories.
After decades as a fashion stylist and editor—at one point nabbing herself a VH1 Fashion and Music Award for her work with Madonna—Goldstein launched her Logo brand in 2009. Its selection of casual womenswear, outerwear, eyewear, jewelry and activewear has brought in more than $1.5 billion in historical retail sales, Xcel Brands said.
“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 omnichannel distribution strategy and by reimagining shopping, entertainment and social media as one thing,” Robert D’Loren, Xcel Brands’ chairman and CEO, said in a statement.
According to Goldstein, the planned acquisition not only positions Logo for “significant growth” but also establishes momentum across multiple distribution channels.
“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,” Goldstein said in a statement. “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.”
Since its founding 2011, Xcel has raked in more than $3 billion in retail sales through live streaming on TV, it said. It owns the Isaac Mizrahi, Judith Ripka, Halston and C. Wonder brands, in addition to owning and managing the Longaberger brand.
Logo by Lori Goldstein’s long-time home, QVC, recently made the jump to YouTube TV. The multi-platform video commerce retailer began livestreaming its shows on the service in January. Of the more than 85 channels on YouTube TV, QVC represented the first livestream shopping channel.