The acquisition is the latest strategic investment by Go Global
LOS ANGELES, May 31, 2022 /PRNewswire/ -- Go Global Retail today announced it has acquired Brums Milano, a leader in premium children's fashion with more than 150 corporate and franchise store locations in Italy, as well as strong online presence, offering apparel, footwear and accessories. Brums is also sold at La Rinascente and via 300 independent wholesale locations across Italy.
Founded in 1951, Preca Brummel SpA is a well-known Italian childrenswear company. Based in Varese, Italy, the company designs, markets and distributes children's apparel and accessories under the Brums and MEK banners.
Brums is a classic Italian brand that has created lasting memories for generations of customers. Its focus is on elevated fabrics with clean designs and fine details in sizes from newborn to teen.
Brums Milano will continue to be based in Greater Milano. Go Global will invest in Brum's digital capabilities including artificial intelligence and predictive analytics. As a portfolio brand on the Janie and Jack platform, Brums Milano will initially focus on its core customers in Italy, with their modern take on children's fashion, and a commitment to sustainable product development and designs.
Go Global previously acquired Janie and Jack from Gap Inc. in April of 2021. Janie and Jack has over 110 retails stores in the United States, a robust online flagship store and is also sold at Saks Fifth Avenue and other leading independent wholesale locations across the US.
In this acquisition, Go Global will leverage back office synergies for technology, ecommerce, digital marketing, sourcing, and raw material collaboration for the two companies, creating a global premium childrenswear platform.
"We are excited about our first investment in Europe", said Jeff Streader, Founder and Managing Partner of Go Global. "We will execute the same successful playbook that we deployed at Janie and Jack by resetting the operational model and investing into the company's digital capabilities." Go Global's international reach will open new markets for Brums Milano into the US as well as into the UK, Europe, the Middle East and Asia.
Deborah Gargiulo, Partner and Group CFO of Go Global added: "our team of experienced retail and brand specialists will complement the existing, experienced team in areas of digital strategy, international business development, supply chain and global operations. Growth is our ultimate goal."
"We welcome Brums Milano to the family", said Linda Heasley, CEO of Janie and Jack. "This is an exciting opportunity for Go Global, Brums and for Janie and Jack, and we are incredibly excited about expanding our brands globally. I believe we'll build a bright future together."
Founded in 2016, Go Global Retail is an investment platform focusing on acquiring brands in the consumer sector. The firm invests appropriate capital to transform and grow brands that have been unable to achieve their digital or global potential. Go Global partners are Investment, Retail and Operational Executives working together to create a holistic approach to grow great brands through digital transformation in the ever-evolving world of global retail. For more information, visit www.goglobalretail.com
Janie and Jack is a premium childrenswear brand based in San Francisco, California. The company operates as a design house, developing seasonal collections with modern twists on classic fashion. Janie and Jack is known for family moments, thoughtful details and memorable gifts. Janie and Jack stores are in the United States for kids' clothing from newborn to size 6 and janieandjack.com for up to size 16. For more information, visit https://www.janieandjack.com/
Brums Milano was founded in 1951 in Varese, Italy. The brand is a historic a leader in premium children's fashion offered across over 450 points of sale across Italy. The company designs, markets, and distributes children's apparel and accessories under the Brums and MEK banners. https://www.brums.com/it/
Go Global Retail
SOURCE Go Global Retail
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.