Artizia acquired Reigning Champs for a whopping $63 million for 75% of the company with the remaining 25% equity to be paid in three instalments through 2026.
Aritzia founder and CEO, Brian Hill, spoke of the transition in a release stating, “We’re excited to welcome Reigning Champ. Rooted in classic, timeless athletic wear, their brand has been carefully curated for just short of fifteen years.”
Founded in Vancouver, Canada, Aritiza now operates over 100 stores across North America, with 63 in Canada and 33 in the U.S.
Up until now, it has sold primarily women’s apparel and accessories, which have gained a major fan following.
On the other hand, Reigning Champ is a smaller brand with two stores operating in Vancouver and Toronto. It was founded in 2007 by Craig Atkinson who spoke on this news in a release, “As an innovative design house offering exceptional experiences through its online and retail platforms, Aritzia’s well-established track record as a successful direct-to-consumer business is one that we’ve long admired.”
Reigning Champ will now be part of the well-known Aritzia private labels including TNA and Wilfred Free.
There’s no word on when we can expect to browse through menswear apparel at Aritzia just yet, so keep an eye out for the launch!
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