Xcel Brands Inc. has expanded its brand portfolio with the acquisition of Logo by Lori Goldstein.
Terms of the deal between Xcel and designer/stylist Lori Goldstein were not revealed. Xcel’s portfolio now has six brands including Isaac Mizrahi, Judith Ripka, Halston, C. Wonder and Longaberger.
Logo by Lori Goldstein, launched in 2009, has been a mainstay on QVC. According to Xcel, Logo by Lori Goldstein has been profitable since its inception and has generated more than $1.5 billion in sales over the course of its history. The brand offers casual women’s wear, outerwear, eyewear, jewelry and activewear. QVC has been its only distribution channel.
“Lori is one of the top brands on QVC and has been for the last ten years,” Robert W. D’Loren, Xcel Brands’ chairman and chief executive officer, told WWD. “She started at QVC almost the same time as Isaac — within months of each others’ arrival. Isaac Mizrahi is one of the leading apparel brands on QVC, and to be a leading apparel brand there, you need to be north of $100 million. Lori has not been far behind.”
D’Loren said the acquisition presents multiple opportunities to expand the Logo by Lori Goldstein business. “Our plan is first to grow her business internationally through QVC affiliates and other interactive television networks around the world,” D’Loren said. “Then we will look to explore extensions into the footwear, handbag, fragrance and home categories.”
Brand collaborations, design upgrades and livestreaming are also on the agenda for Logo by Lori Goldstein.
“We first adopted livestreaming with Longaberger,” a social commerce retailer of artisanal American home goods that Xcel purchased in December 2019.
“We’re now also doing livestreaming with Judith Ripka, and we will add in apparel with Lori as part of that initiative,” D’Loren said. “We have always believed that livestreaming is the future of retail. Customers love getting behind the velvet rope and seeing designers in their homes. It feels more relaxed and more authentic.”
Livestreaming enables shoppers to learn about products by interacting with hosts (often designers and celebrities) who have expert knowledge of the merchandise, and to buy products during the show. Xcel built its own platform for livestreaming, rather than doing it through social media.
Goldstein called her deal with Xcel “a natural partnership, with a common goal to drive robust expansion and bring the Logo brand into its next phase.…It will position us for significant growth and to be a leader across multiple channels of distribution,” Goldstein said. “My inspiration for designing a lifestyle brand coupled with Xcel Brand’s distribution and marketing capabilities and elevated portfolio is a win-win for both parties.”
During her career, Goldstein was a buyer at Fred Segal in Los Angeles. She became an editor at Allure and a contributing editor Vanity Fair, Vogue Italia, Elle USA and W Magazine, and subsequently had many high-profile styling collaborations with leading photographers, designer brands and celebrities including Annie Leibovitz, Steven Meisel, Mario Testino, Dolce & Gabbana, Prada, Madonna, Michael Jackson, Versace and others.
“She is truly one of the most visionary and most important fashion stylists of our lifetime. Her body of work is extraordinary,” said D’Loren. “I’ve admired her from afar but over the last three or four years we got much closer. She is very committed, very driven, very smart, wildly creative and fun, all at the same time.
“If you look at Lori’s product, she has a sort of whimsical design,” D’Loren added. “She is known for mixing fabrics and patterns in ways unique to her brand. She appeals to a woman 35 to 60 years old, and the line is size inclusive. She has a great tops business, and what we are looking at now is how we can drive a very strong bottoms business, similar to what we did with Isaac.”
D’Loren said Goldstein continues as president and chief creative officer of her brand. “There’s really no change. She just now has a tremendous amount of support and infrastructure under her. Xcel Brands continues to provide brands with the operating and technology platform needed to succeed in a dynamic and complex market.”