SOLD: Ace Ross Studios
Los Angeles-based Ace Ross Studios has been purchased by apparel-industry newcomer Brandon Beak, according to the company’s former owner, Ace Ross.
“[Brandon’s] dream was to one day own his own business, and I am so happy to announce that he now owns his own business,” said Ross, who said he struck a deal with Beak for stock options and employment as a marketing and sales consultant.
Ace Ross Studios will undergo several changes. First, the company’s name will be changed to Rag Studio, said Beak, who previously served as vice president of Los Angeles-based BSLA, a private-label juniors manufacturer that produces apparel for Charlotte Russe, Wet Seal and Candies, among others.
The new company will have two juniors lines: Sweeteez, an active sportswear collection, and Rag Studio Collection, a trendy private-label activewear and novelty knit line.
Ace Ross collections—including American Clothing Enterprises and Ace Ross Loungewear—will take a break from production, said Beak.
“Although, we plan to re-introduce those labels to retailers sometime in the future,” he added.
Additionally, the company will take over Ace Ross Studio’s showroom in downtown Los Angeles, effective immediately, said Beak, adding that he will continue to tap Ross’ design input for both labels.
In the meantime, Rag Studio plans to focus on widening its teen demographic, said Beak.
The new merchandising mix will target a wider consumer base, with moderate prices and trendy fashions aimed at juniors shoppers. The company is looking closely at its newly acquired high-end boutique account base to determine how it will approach the inevitable transfusion of Sweeteez apparel. The company will also focus on product development for Rag Studio at mid-tier retail stores, said Beak.
Beak predicts sales for Rag Studio’s private-label apparel will reach somewhere between $10 and $20 million and sales for Sweeteez will reach $5 million by 2004. —Claudia Figueroa
