Uniqlo Parent Buys J Brand
Japanese retail giant Fast Retailing, owner of Uniqlo stores, bought an 80.1 percent stake in Los Angeles premium-denim brand J Brand Holdings LLC.
Private equity firm Star Avenue Capital acquired a 60 percent stake in J Brand in 2010 for $85 million. Jeff Rudes, co-founder and chief executive officer of J Brand, remained in charge of the company, which had annual net sales of $124 million in 2011, according to Fast Retailing. Rudes and J Brand management will continue to run the company, according to a statement released by Fast Retailing, which said the deal extends Fast Retailing’s “brand portfolio among the affordable luxury apparel category” and “will enable Fast Retailing to reinforce its presence further in the crucial U.S. market.”
Fast Retailing has been expanding its U.S. footprint recently, adding stores in San Francisco and Paramus, N.J., to its stable, which includes three stores in New York.The deal is expected to close by the end of the year.—Alison A. Nieder
