Brand now set for worldwide growth in new territories and categories.
Global Icons is looking to spread Los Angeles culture worldwide through its acquisition of experiential retailer, Fred Segal.
The retailer has been a prominent purveyor of LA style and culture since 1961, with the acquisition coming on the back of two successful years. September 2017 saw Fred Segal open a flagship store on Sunset Blvd. in West Hollywood, as well as launch new stores globally in Taipei, Kuala Lumpur, Zurich, Basel, Lausanne and Bern, and achieve record sales at the LAX International Terminal store.
The retailer is due to open a 4,000 square foot Malibu location in April.
With the additional investment and support from the worldwide Global Icons team, Fred Segal will continue its growth within three key areas.
First will be the expansion of the existing Fred Segal collection of apparel and accessories. Second, the opening of additional retail locations in international territories, bringing LA culture to new and loyal fans, with collections curated for the local markets.
Finally, Fred Segal will look to grow its licensing across different verticals ranging from home décor to accessories.
“I was drawn to Fred Segal because despite the industry decline in brick-in-mortar, Fred Segal SUNSET remains exciting and is thriving,” said Jeff Lotman, chairman of Global Icons. “It’s always changing and continues to be a destination and a pop culture retail icon that we will further invest in. It’s the birthplace of some of our favourite designers and most memorable fashion moments.
“I’m committed to preserving the history and integrity of the company, while continuing to evolve the dynamic Fred Segal brand and experience.”
Global Icons will have majority ownership of Fred Segal, with Evolution Media maintaining a minority stake.
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