Bluestar Alliance wins stalking horse bid for tween fashion brand Justice
Bluestar Alliance has won the “stalking horse” position for tween fashion brand Justice, which is presently owned by Tween Brands, which is part of US retailer of women’s clothing Ascena Retail Group.
The bid of Bluestar Alliance, which is valued over $60 million, consists of $44 million in cash and also the intellectual property and associated assets in addition to assumption of certain liabilities.
Joey Gabbay – CEO of Bluestar Alliance said: “We offered a bid that we believe speaks to the strong existing connection consumers have to the Justice brand and its future potential.
“We look forward to maximizing the business with both current and new partners, as well as growing the brand to enhance and expand its current footprint.”
According to Bluestar Alliance, the Justice tween fashion brand will perfectly sit within its existing brand portfolio, which includes Hurley, bebe, Kensie, Limited Too, Tahari, Brookstone, Catherine Malandrino, Nanette Lepore, and others.
Bluestar Alliance said that it intends to focus and capitalize on the strong brand recognition of Justice domestically as well as globally as it connects with its core customer across the world.
Ralph Gindi – COO of Bluestar Alliance said: “We have had significant success in the teen, tween & children’s markets, and believe the Justice brand will benefit from our existing relationships and sizeable market-share.”