Gordon Brothers to Acquire Wet Seal Brand and Related Intellectual Property
Wet Seal is an iconic consumer brand known for its surf-and-sun aesthetic targeted at fashion focused teens.
Date March 3, 2017
Wet Seal was a pioneer in fast fashion, offering on-trend apparel to teen girls and young women. As recently as 2014, the business was doing well with over $500 million in revenue and 478 retail locations.
“Despite the increasing challenges facing teen retailers, we at Gordon Brothers strongly believe in the long-term viability of the category,” said Ramez Toubassy, President, Brands. “Our plan for Wet Seal is to rebuild and re-position the brand and develop a unique new business model to best position it for future success.”
Gordon Brothers’ brands business acquires, restructures and revives some of the world’s most recognisable brands. Past investments include Polaroid, Bombay & Co. and Sharper Image. The team is known throughout the industry for its expertise in buying, selling, managing and transforming under-performing consumer brands into healthy, thriving businesses.