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Published
May 3, 2018
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Bebe finds buyer for LA office, to sell for $28.5 million

Published
May 3, 2018

After a major restructuring last year that involved closing its entire fleet of over 150 retail stores and laying off 700 employees, Bebe has secured a buyer for it's LA-based design office.


The buyer has not been disclosed - Bebe.com


Initially Bebe hoped to get $35 million from the sale of its LA-based design headquarters but, according to Apparel News, has now reportedly accepted $28.5 million from an undisclosed buyer.

Brisbane, CA-based Bebe ran into financial trouble last year which prompted a bailout by apparel licensing entity, Bluestar Alliance. Bluestar paid $35 million last year for 50% equity in the Bebe brand, with the intention of turning the Bebe name into a licensing business.

So far, this year's licensing revenue for Q2 for Bebe's operating subsidiary, BB Brand Holdings, has totaled $2.1 million. Additionally, Joe Scirocco, who was Bebe's managing director and led Bebe's finances, resigned from his job at the end of April, which, according to company executives, will have a positive impact on the company's balance sheet going forward.

While Bebe closed its original fleet of retail stores, Bluestar led the opening of a new concept shop in New York earlier this spring. In a release published at the time, Ralph Gindi, COO of Bluestar Alliance, called the new retail concept "a fresh perspective to engage our loyal and new consumers of the brand."

Gindi had no further comment regarding the sale of the design building in LA.

Bebe's old design building is located at 10345 W. Olympic Blvd in Los Angeles. The deal is expected to close May 21, 2018.

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