Coast Style Group Acquires Fortune Swimwear From Fred Kayne
Fortune Swimwear LLC, the Culver City, Calif.–based private-label company founded by Fred Kayne, was acquired by Coast Style Group on July 1, and the merged companies will be known as CSG Brands.
CSG Brands principals Craig Soller, Stephen Soller and Gary Bulb have been working with Fortune Swimwear since 2010 as the company expanded beyond its swimwear core to offer a full range of women’s apparel offerings, including dresses, intimate apparel and sportswear.
“We have grown from just being a swimwear company,” said CSG and Fortune Swimwear Chief Financial Officer Ann Kennedy. “We really cover that woman from the time she wakes up in the morning until the time she goes to bed at night. The addition of these three partners has taken this company to a different level.”
The company produces a mix of private label and branded apparel in Indonesia, China and Vietnam. CSG’s brands include shapewear swim brand Contour by Beach Scene; coverup line Cover 2 Cover; and contemporary brands Charlie Jade, Harper and Gray and Presley Skye. Kennedy estimates the production mix to be 70 percent private label for retailers such as Walmart and Kmart and 30 percent branded apparel—“and growing.” CSG’s brands are sold in Nordstrom, Neiman Marcus, Off 5th, Anthropologie and Urban Outfitters.
Fortune will continue to operate as a division of CSG Brands.
Kennedy said CSG Brands held off announcing the acquisition and name change until CSG had completed its obligation with Kayne. In addition to Fortune Swimwear, Kayne also co-founded Paige Premium Denim, as well as Fortune Casuals and Fortune Fashions, which was sold in 2011 to Jerry Leigh Apparel.
“Fred Kayne is just a phenomenal individual,” Kennedy said. “He’s been such a strong supporter of the business. We really wanted to let everyone know how excited we are and how grateful we are to him for getting us to this point."