A.k.a. Buys Culture Kings Streetwear Merchant

Jill Ramsey sealed her first deal at A.k.a. Brands, buying Australian streetwear company Culture Kings with plans to quickly expand the business to the U.S.  

Ramsey, an online veteran of Macy’s, Walmart and eBay, became chief executive officer of the Summit Partners-backed investment house last year with an eye toward buying next-gen fashion companies to augment a portfolio that already included Princess Polly, Petal & Pup and Rebdolls. 

Culture Kings was founded by Tah-nee and Simon Beard in 2008 and A.k.a. Pointed to its “extensive and curated collection of over 100 leading global brands as well as its coveted world-exclusive pieces.”

The retail and e-commerce hybrid has stores that feature DJs and interactive games and a base of loyal fans, including Australia-born NBA player Ben Simmons, who took a stake in A.k.a. as part of the transaction. Other specifics of the deal were not disclosed.  

“Culture Kings is a leading digital and retail destination and exactly the kind of hyper-innovative brand that A.k.a. is designed to support,” Ramsey said. “Through their unique and immersive approach, Tah-nee and Simon have built a compelling business with a highly loyal and extensive customer base. As one of the most sought after streetwear retailers today, we see significant growth opportunities as we work with Tah-nee and Simon to introduce and expand the Culture Kings experience in existing and new geographies. Through this partnership, we will provide Culture Kings the support and expertise on the business end, allowing them to focus on the art of fashion and the brand vision that customers have come to know and love.”

The Beards said in a joint statement, “As we look to bring our love of the streetwear lifestyle to new consumers and further deepen our connection with our fans, A.k.a. provides us with the ability to focus on our strengths of creating and curating great product and delivering it in a unique and entertaining way.”


More from WWD: 

ThredUp’s James Reinhart on IPO, Resale and Sustainability

Xinjiang Cotton: Li Ning, Anta Shares Surge While Nike, Adidas, Burberry Hit With Backlash

The New Normal at PVH


Source: Read Full Article