CENTRIC BRANDS ACQUIRES HOSIERY DIVISION FROM DAYTONA APPAREL GROUP
April 27, 2022
NEW YORK–(BUSINESS WIRE)–Centric Brands LLC. (“Centric” or the “Company”) announced today the strategic acquisition of a division of Daytona Apparel Group, a portfolio of retail brands owned by Windsong Brands, that closed on March 24th of this year. Centric will take full ownership of Daytona Apparel Group’s hosiery division which sells product across multiple brands in stores nationwide. Daytona Apparel will continue to independently operate their other categories.
The acquisition will be merged into Centric’s growing accessories division led by Jarrod Kahn, Group President, Accessories. The addition of Daytona’s hosiery business expands Centric’s retailer relationships and its private label and licensed businesses. The acquisition also adds diversity and scale to Centric’s portfolio with new untapped brands, strong recurring year-round replenishment businesses, and an expanded diversified sourcing model. As part of the transaction, Centric will assume new license agreements including Stanley, Free Country, Real Tree, and Umbro. In addition, a number of associates from the hosiery team at Daytona will join Centric and report to Abe Dweck, Executive Vice President, Accessories.
“The strategic growth of Centric is fueled by our expertise in product, operations, and relationships. Acquisitions that assist in accelerating growth are very attractive to us. Our scale and competitive edge in the accessories marketplace benefits from this transaction,” said Jason Rabin, Chief Executive Officer of Centric Brands. “We welcome our new team members and look forward to continuing to deliver best-in-class product and service to our customers.”
About Centric Brands LLC.
Centric Brands LLC. is a global leading lifestyle brand collective that has unparalleled expertise in product design, development and sourcing, retail and digital commerce, marketing, and brand building. Centric designs, sources, markets, and sells high-quality products in the kids, men’s and women’s apparel, accessories, beauty, and entertainment categories. The Company’s portfolio includes licenses for more than 100 iconic brands, including Calvin Klein®, Tommy Hilfiger®, Nautica®, Spyder®, and Under Armour® in the kid’s category; Joe’s Jeans®, Buffalo®, Hervé Léger®, and IZOD® in the men’s and women’s apparel category; Coach®, Kate Spade®, Michael Kors®, All Saints®, Frye®, Timberland®, Hunter®, and Jessica Simpson® in the accessories category; and in the entertainment category, Disney®, Marvel®, Nickelodeon®, and Warner Brothers® among many others. The Company also owns and operates Zac Posen®, Hudson®, Robert Graham®, Avirex®, Fiorelli®, and Taste Beauty® and operates a joint venture brand, Favorite Daughter, with Sara and Erin Foster. The Company’s products are sold through leading mass-market retailers, specialty and department stores, and online. The Company is headquartered in New York City, with U.S. offices in Los Angeles and Greensboro, and international offices in London, Toronto, and Montreal. Centric Brands social impact efforts are centered around our commitment to serve and uplift the communities where we live and do business. Through our collective volunteerism and contributions, we are dedicated to making a caring and lasting impact on the world around us.