The Ralph Lauren brand has lost a beloved member. Just last week, the mega-retailer announced it has officially sold Club Monaco to a private equity firm, Regent LP. This news follows the announcement of Club Monaco shutting down its massive flagship storefront at Bloor Street West in Toronto.
For those who aren’t familiar, Club Monaco is known for its beautiful, high-quality pieces, and was actually founded in Toronto in 1985 and sold to Ralph Lauren in 1999.
Club Monaco currently operates the majority of its company in Canada and has stores in the United States, United Kingdom, Sweden, Singapore, China, Taiwan, South Korea, Hong Kong, and Macau.
Regent LP is said to have purchased the brand to further expand its potential and growth. So, Club Monaco fans, this seems as though it’s very good news!
Michael Reinstein, the Chairman of Regent spoke about the recent purchase stating in a release that “Club Monaco is a beloved brand with a modern style, loyal customer base and long runway for growth. We see tremendous opportunity for Club Monaco and are excited to leverage our retail and e-commerce expertise to build upon the strong brand that the Ralph Lauren team built over two decades of stewardship.”
The official deal is said to close at the end of June this year.
Now, only time will tell what we can expect from Club Monaco moving forward.
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