Andie acquires Richer Poorer to accelerate growth
US swimwear brand Andie has acquired Richer Poorer, a company specialising in comfortable clothing such as nautical-inspired t-shirts and jumpers, according to Business of Fashion (BoF).
Although the financial terms were not disclosed, the transaction was carried out with Andie's own funds and marks its first acquisition since its founding eight years ago. Both brands will begin selling each other's products on their respective websites, increasing their visibility and reach. Its founder, Melanie Travis, projects that, combined, they could exceed 100 million dollars in annual sales within three to five years.
With annual sales of 50 million dollars, Andie is looking to expand beyond swimwear without developing a new line from scratch. Travis chose Richer Poorer for sharing a similar aesthetic and for being a brand that she already used personally.
Richer Poorer, founded in 2010 and acquired by Francesca's in 2023, saw its growth stall under its previous owner. Now, the integration with Andie will optimise its online sales channel and relaunch its growth, with the goal of exceeding 10 million dollars in sales.
This move reflects a trend among direct-to-consumer (D2C) brands that choose to join forces rather than seek external investment. Travis also leaves open the possibility of selling a majority stake in the future if this allows for faster scaling. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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