O’Melveny represented Global Icons on the deal
Global Icons, a leading brand-licensing agency, executed its acquisition of Fred Segal. The iconic Los Angeles-based experiential retailer has been a prominent purveyor of LA style and culture since 1961. Terms of the transaction were not disclosed but Global Icons will have majority ownership of Fred Segal LLC with Evolution Media maintaining a minority stake.
This comes on the heels of two successful years for Fred Segal, having opened a flagship store on Sunset Blvd. in West Hollywood, CA in September 2017, launched new stores globally in Taipei, Kuala Lumpur, Zurich, Basel, Lausanne and Bern, and achieved record sales at the LAX International Terminal store. The legendary retailer will open a 4,000 square foot Malibu location, the third location in Los Angeles, on April 6th, 2019.
With the additional investment and support from the worldwide Global Icons team, Fred Segal will continue its growth within three key areas. First, will be the expansion of the existing Fred Segal collection of apparel and accessories. Second, the opening of additional retail locations in international territories, bringing LA culture to new and loyal fans, with collections curated for the local markets. Last, Fred Segal will look to grow its licensing across different verticals ranging from home décor to accessories.
Global Icons is a leading global brand-licensing agency, responsible for $5 billion in annual sales worldwide, creating partnerships centered around celebrated heritage brands, such as the famed Hollywood Sign, Lamborghini and Vespa.
The O’Melveny team representing Global Icons was led by Century City partner Sean Monroe (Picture) and included associate Jennifer Marr.
Law Firms: O’Melveny & Myers LLP;
Clients: Global Icons, LLC;