<\/p>\n
\n\tWhat do Thomas Pink and The Limited have in common? Their owner.<\/p>\n
\n\tCP Brands Group, a New York-based company that owns or licenses a wide range of brands including Wrangler, Vince, Snug, Chickpea, RBX and Avalanche Outdoor Supply Co., purchased The Limited last month and has big plans for its return.<\/p>\n
\n\tCP Brands, headed by chief executive officer Eli Yedid, acquired The Limited from Sycamore Partners, the private equity firm that purchased the former retailer in 2016 for $26.8 million. Terms of this deal were not disclosed but Yedid said he partnered with Harry Adjmi, CEO of One Step Up, on the purchase and they \u201cgot a really good deal.\u201d<\/p>\n
\n\tThe Limited, which was founded by Leslie Wexner in 1963, had a legendary run as a groundbreaking and popular women\u2019s sportswear chain. It became a public company in 1989 and continued to grow through the 1980s and \u201890s, becoming a staple in shopping malls around the country.<\/p>\n
\n\tBut as tastes changed, the business began to struggle and in 2017, it closed all its stores and filed bankruptcy. Sycamore acquired the trademark through the bankruptcy auction process and used the name to create a private-label brand at another of its holdings, Belk stores.<\/p>\n
\n\t\u201cThey did a smart thing,\u201d Yedid said of Sycamore. \u201cThey had a good brand in The Limited, but it wasn\u2019t making money. They already had the real estate with Belk so they created a brand and anyone that wanted The Limited had to go into those stores.\u201d<\/p>\n
\n\tIn 2024, Sycamore sold Belk to its existing lenders, including funds associated with global investment firm KKR, and Hein Park, an investment management firm focused on distressed debt.<\/p>\n
\n\tYedid said the eight-year deal for the use of The Limited name was set to expire at the end of 2026 and it would have cost Belk\u2019s new owners $10 million a year to retain the private brand, so they declined.<\/p>\n
\n\tThat opened the door for CP Brands, which purchased Thomas Pink in partnership with Icon Luxury Group early last year, to step in.<\/p>\n
\n\t\u201cMy team and I are always on the lookout for heritage brands that can be refreshed and rebranded,\u201d Yedid said. \u201cI think there\u2019s a lot of value from a business standpoint in doing that. And we\u2019re ready to recreate and reinvigorate a brand that\u2019s been around since 1963.\u201d<\/p>\n
\t\t\t\t\tThe Limited had been a mainstay in malls in the 1980s and 1990s.<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy<\/p>\n
\n\tHe believes there\u2019s still a lot of nostalgia around the brand with women in their 40s, 50s and 60s and limiting its distribution to 290 Belk stores was \u201cabsolutely a missed opportunity,\u201d he said.<\/p>\n
\n\t\u201cWe want to have it in specialty stores, department stores, put the website back up, create social media around it. We\u2019re going to recreate it as its own independent brand,\u201d he said.<\/p>\n
\n\tYedid added that he won\u2019t just limit the brand to apparel, but will seek to license the name in a number of other categories as well.<\/p>\n
\n\tHe also plans to bring the brand to Asia and Europe and is already lining up partners there. \u201cIt may not have had a big footprint there, but people travel to the U.S. and knew the brand,\u201d he said. \u201cWe have a new blank canvas with it to recreate this for a younger customer as an exciting, contemporary sportswear brand.\u201d<\/p>\n
\n\tYedid is actively meeting with a number of potential licensing partners in the U.S. to serve as the \u201canchor\u201d for the women\u2019s collection. \u201cWe\u2019ve spoken to several significant companies that have a strong interest,\u201d he said, adding that he will seek to \u201cput it in the hands of people that really get the DNA.\u201d<\/p>\n
\n\tHe envisions the collection as a trend-driven brand at a moderate price point. At Belk, $30 to $70 retail prices were the \u201csweet spot,\u201d he said, with textured blazers selling for under $50 and wovens and bottoms at $29 and $39. But he sees the aesthetic to be similar to Vince.<\/p>\n
\n\t\u201cIt\u2019s not a premium brand, it\u2019s more trendy,\u201d he said. \u201cIt\u2019ll be in the wardrobe for one to two years, not something you pass down to your children.\u201d<\/p>\n
\n\tYedid also hopes to eventually expand The Limited\u2019s reach to menswear and childrenswear.<\/p>\n
\n\tOnce product is available, he plans to open a pop-up in New York City to see if reentering retail with The Limited is a viable option. \u201cRetail today is difficult and we\u2019re going to want to have proof of concept before we open a store,\u201d he said.<\/p>\n
\n\tInstead, The Limited will operate under CP\u2019s \u201cbrand management umbrella and we\u2019ll do licensing deals,\u201d he said.<\/p>\n
\n\tThe acquisition allows CP to branch out into a category that was missing within the company. \u201cWe had a vacancy in the portfolio,\u201d he said. \u201cI have athleisure, outdoor apparel, men\u2019s luxury, and all kinds of other brands, but we didn\u2019t have women\u2019s sportswear.\u201d<\/p>\n
\n\tYedid founded CP Brands in 2000 after working at RBX Active for 13 years. He said his company has \u201cdone well\u201d over the years so he has the financial wherewithal to make strategic purchases such as The Limited and Thomas Pink. One Step Up also owns New York & Company, Fashion to Figure and Hard Tail. \u201cThe Limited is a remarkable American brand with an extraordinary history. We intend to honor what made it special and build its next chapter,\u201d said Adjmi.<\/p>\n
#Reinvent #Iconic #Womens #Sportswear #Brand<\/p>\n","protected":false},"excerpt":{"rendered":"
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