Larry Sass has joined the 818 Global Group as executive vice president with responsibility for overseeing the company’s entry into licensing and brand representation.
Sass, a veteran of Guess Inc. and Carole Little, was managing director of Cherokee Inc. before leaving the firm last year. He was directly involved in Cherokee’s 2002 acquisition of the trademarks of CL Fashions, including Carole Little, in a bankruptcy court auction and their subsequent reintroduction through a licensing agreement with The TJX Cos. Inc.
At 818, he reports to Jay Joffe, founder and president. Joffe was the co-founder of Ride Snowboards and the founder and president of Sportinc Corp.
Based in Calabasas, Calif., 818 was founded in 2005 and has specialized in the purchase and resale of excess inventory from brands and retailers, principally in North America and Europe.
“We have longstanding relationships with some of the best brands and retailers, not just in the U.S., Canada and Europe, but throughout the world,” Joffe said. “Companies know us to be protective of their brand integrity. With that trust and Larry’s expertise, we see opportunities to put U.S. brands overseas, bring others into North America and also help companies that are looking to extend their businesses into categories and geographical markets in which they don’t have their own staff and expertise.”
While no deals have been signed, negotiations with brands and prospective licensees are underway. Sass said arrangements could take a number of different forms, from conventional brand-to-wholesaler licenses to direct-to-retail agreements like those Cherokee has with retailers such as Target, TJX and Tesco.
Joffe said the company is open to joint-venture arrangements as well. “And we wouldn’t hesitate to acquire a brand if the terms and opportunities were right,” he told WWD.
The 818 Global Group is a division of 818 Sports LLC.