Bluestar Alliance, a New York-based brand management company, has acquired the Amsterdam-based Dutch fashion brand Scotch & Soda.
The acquisition by Bluestar Alliance will allow for the continuation of the brand and its products across key markets including the Netherlands. The brand management firm already owns a portfolio of consumer brands including iconic action sports brand Hurley, Bebe and Tahari, among others.
"Bluestar continues to strategically build its portfolio, and we see Scotch & Soda as a unique fit, widely known for its roots in Amsterdam and celebrating self-expression with a modern twist on timeless fashion pieces,” explained Joseph Gabbay, CEO, Bluestar Alliance.
"Scotch & Soda is a chic, contemporary lifestyle brand which embodies the free spirit of Amsterdam and is uniquely recognized by consumers everywhere in the world,” continued Ralph Gindi, chief operating officer.
“The niche brand sits on its own and attracts a younger fashion-conscious consumer who appreciates fine craftsmanship and attention to detail," he added. "Our goal is to continue Scotch & Soda's luxury retail distribution strategy, while also introducing the brand to more trendsetters, especially those looking to express their personality through their clothing," said Gindi.
Following the closing of the transaction, Scotch & Soda will be enabled to continue its activities in selected markets. Further details will be shared after the closing, which is expected to take place in the coming weeks.
"We are happy that we were able to make this announcement following the bankruptcy. We have seen quite some interest from parties to acquire some of the bankrupt assets. The proposal of Bluestar Alliance was by far the best deal for all stakeholders involved,” said Jasper Berkenbosch, attorney at Jones Day and trustee of the bankrupt entities.
"This is good news for quite a large group of employees at Scotch & Soda, even if, unfortunately, not all employees can be kept on board. Scotch & Soda is a great brand and I'm glad to see that it can prosper under the management of a company with a great track record,” added Erik Schuurs, co-trustee.
Bluestar Alliance was founded by Joseph Gabbay and Ralph Gindi in 2006. The holding owns, manages, and markets a portfolio of consumer brands that span across many tiers of distribution from luxury to mass market.
The group’s portfolio consists of major department store retail brands including Hurley, Tahari, Bebe, as well as Justice, Brookstone, Kensie, Catherine Malandrino, Nanette Lepore, English Laundry, Joan Vass and Limited Too.
Each brand is positioned maintaining the brand heritage and equity, considering new categories and current tiers of distribution.
Since its inception, Bluestar has acquired select brands with current retail sales exceeding US$6 billion. The company manages a current portfolio of over 300 licensees and a growing branded retail platform of over 100 stores worldwide.
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