American Exchange Group snaps up womenswear brand Venus
In a statement, Alen Mamrout, CEO of AXNY Group, said: "This acquisition represents a significant step forward in our continued expansion into the fashion and apparel category. The brand's strong identity and loyal customer base align seamlessly with our strategic vision. With our resources and expertise, we're excited to explore what's next for the brand and unlock its full potential in the evolving retail landscape."
As part of AXNY, Venus said it plans to streamline its product offering towards more curated, seasonal collections. Alongside an emphasis on digital growth, the brand is also planning to introduce new retail experiences, including an expansion into retail partnerships. Venus will continue to operate from its Florida headquarters.
Laura Bollier, CEO of Venus, said the 'new chapter gives us the strategic support to sharpen our focus and thoughtfully expand – while staying rooted in the DNA our customers have always loved'. Bollier noted that the company was 'excited to reset and return to the core of what made Venus iconic'.
Founded in 1984, Venus set out to target 'fashion-forward women', offering pieces for everyday style, vacations and wardrobe staples. The company has primarily operated as an online retailer and catalogue business, however, in more recent years, financial turbulence has put it in precarious positions.
In 2009, the company, which was formerly known as Venus Swimwear, was rescued from the cusps of bankruptcy by German retailer Bonprix, a subsidiary of the Otto Group. By 2023, Venus was then forced to reorganise its Jacksonville headquarters, laying off 129 workers due, according to media reports at the time.
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