Sequential Brands Group, Inc. said late Tuesday it has bought the Joe’s brand and related assets for about $67 million. Sequential also announced that it has signed a long-term licensing agreement for Joe’s main product categories with Hong Kong-based Global Brands Group Holding Limited.
In a joint release from Sequential and Global Brands, the two companies said Global Brands will design, produce, and distribute products across multiple categories including womenswear and menswear. Sequential will oversee the global marketing strategy for key brand initiatives. Brand founder Joe Dahan will continue to lead product design and brand marketing as creative director.
Joe’s Jeans Inc. was founded in 1987 and is based in Commerce, Calif. The company has wholesale and retail operations, as well as online retail sites joesjeans.com and hudsonjeans.com. It was formerly known as Innovo Group Inc., and changed its name to Joe’s Jeans in October 2007.
Recently the Joe’s business fell on hard times and talk of a sale had been circulating.