NEW YORK — Oved Apparel Corp. is getting into contemporary.
The parent company of such urban brands as Dr. Jay's, Akademiks and Mecca, as well as PRPS, a high-end denim brand, and Company 81, a sporty men's label, has become well known in the men's wear arena. Now Oved has invested in the women's category with the acquisition of young contemporary brand Boy Meets Girl by Deesh, a six-year-old label founded by Stacy Morgenstern Igel. Oved purchased a majority stake from Morgenstern Igel and all rights from JARS Designs, the brand's former licensee. Terms of the deal were not disclosed, but market sources said the label was likely purchased for about $8 million.
"We are confident that Boy Meets Girl will contribute to our brand strategy," said David Oved, president of Oved Apparel. "Stacy Morgenstern Igel is a talented designer and has a great energy, and we see great potential for brand development."
That brand development has already begun. With Morgenstern Igel still at the creative helm, the brand is now based out of Oved's headquarters at 31 West 34th Street here. Since the brand has been known for its signature boy and girl profile logo, Morgenstern Igel said she will interpret it in new ways, such as in an allover print on a hoodie or in a more subtle way, as on a zipper pull. Also, she said, the collection has become more focused, with 60 percent of the line made as activewear with hoodies, tanks and pants as staples and 40 percent fashion based, showing novelty tops, dresses and jackets. Wholesale prices range between $20 and $60, which is, on average, about $10 less expensive than it used to be.
"I'm really going after that young contemporary customer, since there is such a void in that arena," Morgenstern Igel said. "The best way to describe the young contemporary customer is stylish, edgy and sexy. She is a young modern girl ranging in age from 16 to 35. She has grown up in the world of celebrity, she is technology-savvy — she has the Internet at her fingertips, writes and reads the fashion and trend blogs and is making her own unique style. I think it is all about the attitude. Also, in this ever-changing economy, being at a great price point is key to building brand loyalty."While Morgenstern Igel said she wants to carefully grow the brand over time, plans are in the works for brand extensions, as she said she would like to launch accessories ranging from socks to handbags. Also, in about three years, Oved hopes to open Boy Meets Girl freestanding stores.
"Right now we are focusing on our wholesale and hoping to grow that business," Morgenstern Igel said.
The line is sold in about 60 specialty stores worldwide and has just been picked up by Neiman Marcus Cusp for fall. Morgenstern Igel said she expects to reach $25 million in wholesale volume within the next five years.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye