Global Icons Licensing Buys Majority Stake in Fred Segal
The Fred Segal boutique company is on the move. A new Fred Segal store will open in Malibu, Calif., on April 6, and the retailer has a new owner.
Brand-licensing agency Global Icons announced on March 27 that it acquired a majority ownership in Fred Segal LLC. Terms of the deal were not disclosed.
In 2012, the Sandow company acquired the rights to the Fred Segal name. In 2014, Sandow partnered with equity investor Evolution Media Partners, which gained majority ownership in 2016. With this latest acquisition, Evolution Media becomes a minority stakeholder in the company and Sandow is no longer involved in Fred Segal.
In the past, Global Icons has created partnerships around celebrated heritage brands including Los Angeles landmarks such as the Hollywood sign and the Walk of Fame. Jeff Lotman, Global Icon’s chairman, said that his company’s investment will help expand the existing Fred Segal collection of apparel and accessories. It also will help the retailer open new stores overseas and expand Fred Segal’s licensing business.
In 2012, Fred Segal opened a store at the Los Angeles International Airport, and five years later it opened a flagship in West Hollywood, Calif. The retailer also has new locations in the Swiss cities of Zurich and Lausanne as well as in the Asian cities of Taipei and Kuala Lumpur, said Allison Samek, Fred Segal’s chief executive officer.
“Over the previous few years we have been focused on building the brand and setting the foundation for the future. We’ve opened stores, developed a strong assortment of product and shared our vision with the world. We are perfectly positioned to grow this brand exponentially with Global Icons,” Samek said.
Lotman said that growth will not change what people loved about Fred Segal. “I’m committed to preserving the history and integrity of the company while continuing to evolve the dynamic Fred Segal brand and experience.”