Sandow Media Acquires Fred Segal Brand
June 12, 2012,
The acquisition includes the rights to all intellectual property, the development of a new e-commerce platform for fredsegal.com, new retail stores worldwide and the development of Fred Segal branded apparel and products.
Rooted in the Hollywood culture for more than 50 years, the Santa Monica and West Hollywood Fred Segal retail locations have been known for its trend-setting merchandise in gifts, apparel, beauty and home décor.
"This is an unprecedented opportunity to continue building such a powerful brand with over five decades of heritage that has always remained authentic. Fred had a clear vision, which Michael [Segal, managing partner and founder's son] built upon as he shepherded the brand, staying committed to his father's core mission. My company is privileged to be entrusted with this legacy and will continue the Segal family's vision as we expand the brand globally," says chairman and CEO Adam I. Sandow.
Michele Caniato, president of Culture + Commerce, Sandow's design management agency, will manage all licensing deals for Fred Segal globally, and has already begun working with potential partners around the world to open new stores and develop unique Fred Segal branded products that reinforce its image as a style trendsetter. Dan Levin, who recently joined Sandow from the licensing agency Beanstalk, will head up Sandow's new LA office to help oversee matters as vice president of Culture + Commerce.
In an interview with fashion trade publication WWD, Caniato observed, "We are going to be very careful on how and where we spread the Fred Segal name. Fred Segal is a brand with a lot of equity and is well known on the West Coast. We're going to look to Asia and the European market, as well as Miami, Las Vegas and New York." He also noted that within every apparel store, there are plans "to create a subbrand such as Fred Segal at Home."
On the decision to sell the brand to Sandow, Michael Segal noted, "Over the past 50 years, we have turned down multiple offers, never willing to risk our brand integrity, but after meeting Adam Sandow and discovering his passion for innovation and vision for Fred Segal, the decision was clear. We are excited to watch his team grow our beloved brand to new heights."
The current Fred Segal stores in Santa Monica and West Hollywood will continue to operate " ‘as is,' " Adam Sandow told WWD. "They have the right to use the name."
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