A judge on Friday authorized the sale of BCBG Max Azria LLC’s domain for its Lola juniors brand.
The brand, which has been out of operation for some time now, was originally launched in 2010 in a bid to help the company reach a younger demographic, with the promise of boutique looks at lower prices. Later that same year of its launch, Lola also entered retail.
The all-cash, $550,000 sale to a private entity sells off Lola’s domain name and does not include the brand’s intellectual property.
BCBG filed for Chapter 11 bankruptcy in March, with management aiming to right-size the business as the company winds through its in-court restructuring process. The company cut ties with founder Max Azria’s wife Lubov Azria, the company’s longtime creative director following its Chapter 11 filing and the following month received court approval to move forward on a licensing deal with Global Brands Group for its BCBG Max Azria and BCBGeneration brands. The agreement allows GBG to make footwear, belts, socks, jewelry and home goods under the two brands with the licensee paying a $2 million up-front fee in addition to a percentage of sales.
There’s been other movement in the case of BCBG. This week it was revealed Max Azria had invested in a Los Angeles start-up called ZappLight that makes an LED light bulb that also serves as a combination bug deterrent. The investment gave the fashion executive the chief executive and partner title there.
It’s unclear whether the investment gave Azria an ownership stake in the business. A spokeswoman for the company declined comment Wednesday and declined to make Azria available for an interview to discuss his new endeavor and what his plans are for the business.
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