Genetic Denim Has a New Owner
Genetic Denim, the Los Angeles premium jeans label started nearly a decade ago, was acquired recently by a small investment group that brought in veteran apparel executive Hubert Guez to help turn the company around. The acquisition price was not disclosed.
Genetic Denim was launched in 2007 by Ali Fatourechi, who crafted a high-end denim pant that sold in the $200 price range at luxury stores such as Nordstrom, Neiman Marcus, Barneys New York and Bloomingdale’s.
Last year, Genetic Denim partnered with model Liberty Ross to launch a capsule collection called Genetic x Liberty Ross. Also last year, millionaire record mogul Jimmy Iovine and Hard Rock Café co-founder Peter Morton invested in the company.
The new owners of Genetic Denim plan to continue to sell the brand at high-end stores but with a retail price point that will be around $150. All the jeans and denim pieces will be manufactured in a sewing factory in South Los Angeles, using the same quality denim fabric that was employed before.
“The brand has an excellent reputation for fit, sexiness and the fabrics are soft,” Guez said. “We are going to continue the same fabrication and add some new technical fabrics.”
The new owners hope to capitalize on domestic production and turn goods quickly to keep up with fashion trends.
Previously, Guez was chief executive of Ed Hardy from 2008 to 2012, working with Christian Audigier, who started the label. The label was later sold to Iconix Brand Group.
Guez has a long history of manufacturing jeans and other apparel. In 1991, he started Azteca Production International, which made blue jeans in Mexico for a number of American labels until Azteca closed in 2005.
Guez’s brother, Paul Guez, launched Sasson jeans in the 1980s. His other brother, Gerard Guez, started Tarrant Apparel Group, which later became Sunrise Brands. Hubert Guez was CEO of Sunrise Brands from 2012 to 2014