Latest news with #AlenMamrout
Fashion United
6 days ago
- Business
- Fashion United
American Exchange Group snaps up womenswear brand Venus
Womenswear brand Venus has found a new home at American Exchange Group (AXNY Group), which has acquired the Floridian label for an undisclosed sum. The move builds on AXNY's efforts to grow its portfolio of owned and licensed fashion and lifestyle brands, which already comprises Aerosoles, Indie Lee and Jonathan Adler. 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.
Yahoo
7 days ago
- Business
- Yahoo
American Exchange Group Acquires Venus Fashion
American Exchange Group, a leader in accessories design, licensing and manufacturing, has acquired Venus, a heritage women's fashion brand. Founded in 1984 and headquartered in Jacksonville, Fla., Venus manufactures vacation-ready swimwear and versatile wardrobe staples including dresses, tops, denim, sweaters shoes and accessories. Venus has had a long-standing presence in both e-commerce and catalogue retail. The deal closed July 29. More from WWD Bogner Sells Majority Stake to Katjes International to Drive Global Expansion Gucci Reveals 2025 Recipients of the North America Scholarship, Impact Fund and Creative Fellows Program La Plage to Launch Swimwear Trade Show in France The acquisition, whose price wasn't disclosed, marks a significant step in American Exchange Group's strategy to grow its portfolio of owned and licensed fashion and lifestyle brands. Venus joins a lineup that spans accessories, footwear, beauty, home and apparel, including brands such a Aerosoles, NatureWell, Indie Lee and Jonathan Adler, enabling American Exchange Group to further diversity its offerings and expand into new market segments. 'This acquisition represents a significant step forward in our continued expansion into the fashion and apparel category,' said Alen Mamrout, chief executive officer of American Exchange Group. '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.' Laura Bollier, CEO of Venus, said, 'As we look toward the future, we're excited to reset and return to the core of what made Venus iconic: bold, effortless, empowering fashion designed with intention. This 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.' Under AXNY's leadership, Venus plans to streamline its product offering into more curated, high-quality seasonal collections and introduce new retail experiences, including a forthcoming expansion into key retail partnerships. The brand will continue to operate from its Florida headquarters with a focus on digital growth and enhanced customer engagement. Founded in 1984 in Jacksonville, Fla., Venus has a deep background in swimwear, pioneering the concept of swim separates which allows women to find their perfect fit. Venus' core swim solids are designed with recycled fabrics crafted from repurposed pre- and post-consumer materials. The company uses solar energy to power its Florida headquarters. The company's swimwear ranges in sizes from 2 to 24 and swim bra-size measurements up to a G cup. The company's wide range of women's fashion has select offerings in plus and petite. Venus distributes its products through Venus. com, as well as select styles on Starboard cruises and hotels, along with Amazon and Target. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor
