Stikeleather Apparel acquires online retailer White Plum
Stikeleather Apparel Holdings, Inc. on Wednesday announced the acquisition of online women’s retailer White Plum, Inc.
Through the acquisition, the men’s clothing and fashion accessories label will be able to offer seamless closure designs for women through White Plum. Stikeleather plans to grow the White Plum brand by expanding its marketing program; take its product into outlet stores; add a Sugar Plum children’s line, a plus size line and a White Plum Collection upscale line; and add new products.
"When Jon Tullo [the Managing Director of Belmont Acquisitions Corp.] introduced the idea of acquiring White Plum to me, I immediately saw the vision to move the company to Los Angeles to take advantage of the depth of talent in the garment industry and also the opportunity to create innovative designs for young women that would eliminate the bumps and seams that other closure designs cause in women's fashion. By combining both companies, I could create scale and increase revenues dramatically," noted Ian Stikeleather, CEO of Stikeleather Holdings.
White Plum is a $9.5 million annual revenue online retailer that sells custom designs and competitively priced items on its website, Zulilly and Jane.com. The White Plum consumer is generally women ages 25 through 45. Stikeleather plans to move the Modesto, California-based company to its Los Angeles headquarters.
Ian Stikeleather founded Stikeleather Apparel Holdings, Inc., and the Los Angeles-based company owns and operates a namesake menswear label.
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