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Acquisition

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Global Brands Extends its Capabilities in Accessories with Acquisition of PS Brands

Publish Date: November, 2015

GBG_MOMA_FINAL2.46Hong Kong, 6 November, 2015 – Global Brands Group Holding Limited (“Global Brands”; SEHK Stock Code: 787), one of the world’s leading branded apparel, footwear, fashion accessories and lifestyle product companies, today announced its subsidiary has acquired substantially all of the assets of PS Brands, LLC, doing business as Planet Sox, a leader in designing, marketing and distributing hosiery products across multiple categories, including socks, legwear, baby shoes and related accessories. The acquired business will be a core addition to Global Brands’ accessories business.

Planet Sox manages a wide range of licensed brands, from entertainment characters and active lifestyle, to ladies’ fashion and men’s fashion. Its portfolio of licenses includes Disney, Nickelodeon, Hasbro, Fila, Head Sport, Funky Socks, Kate Spade, Nanette Lapore, and Kensie. Its products are available at multiple channels of distribution, including mid-tier and better department stores, mass stores, athletic footwear chains, specialty stores and off-price retailers.

Elie Levy, founder, will continue to run the business as President of GBG Socks, LLC, Planet Sox.

Dow Famulak, President and Chief Operating Officer of Global Brands Group Holding Limited, said, “This acquisition extends our capability to offer character, lifestyle, fashion, sport and private label legwear. It is a step in further enhancing Global Brands’ competitive strength in accessories.”

Bruce Rockowitz, Chief Executive Officer and Vice Chairman of Global Brands Group Holding Limited, said, “The transaction represents a natural extension of our growth platform and aligns well with our strategy to focus on Global Brands’ core product categories. We are excited about the opportunities we can leverage to further grow not only our accessories business but also across our entire portfolio of brands.”

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Planet Sox Layers in PS Studio Division for Higher End Legwear

Source: AccessoriesMagazine.com
Published Date: June 22, 2012

New York—Elie Levy, president, ceo and founder of Planet Sox, likes to say there just about isn’t any retail channel his legwear company doesn’t sell. And that’s truer than ever with the company’s recent launch of PS Studio, a division dedicated to the “better tier” of retail distribution.

“We recognized that our design team had the ability to create product for a previously unexplored tier of distribution,” Levy says. “We were able to find voids for fashion in men’s, women’s and kids categories that were not being addressed by the major brands.”

Searching for More Brands, Licenses 

The division is headed by Susan Spindell, an industry veteran with experience at American Essentials and Hot Sox. The PS Studio division contains the recently launched Kensie legwear brand, along with the design-driven “PS Studio” brand. Both brands have been placed in major department stores, including Nordstrom, Lord & Taylor, Macy’s.com and Von Maur, for Fall.

Levy and his team say they are out kicking tires–looking to add to the company’s already long list of licensed brands, including sport brands such as Fila and Hind, to fashion brands, such as Esprit and Mac & Jac.

We’ve built a solid foundation since starting the company in 1994, and we’re always looking for brands and licenses that will help continue our growth,” Levy says. “We launched our new division because–contrary to the recessionary times we live in–there is always room for great product at competitive pricepoints. We just keep searching for the voids and find the products to fill them.”

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PS Brands LLC buys Assets of Planet Sox Holdings, LLC

Source: Industry News
Manhattan, NY – January 15th, 2009 

PS Brands, LLC (“Planet Sox”) announced today that it has acquired the assets of Planet Sox Holdings LLC.

PS Brands, LLC was formed in a joint venture between Elie Levy and the Adjmi Apparel group. The purchase price was not disclosed.

Founded in 1994, PS began as a domestic manufacturer of family socks. In 1997, as the company expanded it launched its proprietary brands Planet Sox & Candy Girl. The Company has evolved into a significant player in Private label as well as on the character licensing front, holding such licenses as Camp Rock, Jonas Bros, iCarly, Hanna Montana, High School Musical, Dora the Explorer, SpongeBob, Star Wars, Barbie amongst many others.

Elie Levy, who remains a substantial owner in the business through his holding company E&E Hosiery; will serve as President & Chief Executive Officer of PS Brands, LLC said, “We are extremely excited to become part of the Adjmi Apparel Group and benefit from their retail knowledge and experience. This partnership with Adjmi will allow Planet Sox to realize its true potential.”

Mark Adjmi, President of Adjmi Apparel Group, added, “Planet Sox is an exciting addition to the Adjmi Group, with strong character brands and a solid management team. Furthermore, it is very complimentary to our business and customer structure. I look forward to working with Elie and his team as we continue to expand the Planet Sox business.”

Planet Sox has expanded its distribution to over 10,000 doors in the USA & Canada and into chains such as Wal Mart, JC Penney, Sears, K Mart, Target, Dollar Tree, Payless Shoe and more.

The Adjmi Apparel Group, a privately held company, founded in 1976, is a very large and important supplier of Boys, Girls, Ladies & Men’s apparel to major retailers under private label as well as under popular licenses such as Southpole, Champion & Skechers.