“We would like to add one to two really select strategic acquisitions annually,” Ramsey said. Brands, which is backed by private equity firm Summit Partners, recently went public as it continues to add new brands to the portfolio.
and Australia, i n addition to Mnml.la and Mnml’s mobile platforms. Mnml will be sold through Culture Kings’ stores and website in the U.S. So there’s a ton of cross-marketing and cross-merchandising value for us in this acquisition.” And similarly, Mnml will help introduce Culture Kings into the U.S. “The Mnml brand will really resonate with our existing streetwear customers in Australia. There’s a really nice synergy there,” she explained. And Culture Kings is a global leader in streetwear hats and hoodies and T-shirts and sneakers. “Mnml is very good at denim and bottoms, which we see as a perfect complement to our Culture Kings brand. Ramsey said the acquisition of Mnml helps balance out the assortment of Australian streetwear brand Culture Kings, which A.k.a. portfolio and work closely with Culture Kings to create value and opportunities for both of our businesses.” “We are excited to join the other great brands in the A.k.a. Brands’ highly skilled leadership team and their extensive experience scaling successful e-commerce businesses while preserving brand authenticity,” said Fields, who will continue to lead the brand under A.k.a. “We are confident that our customers and our brand will benefit from A.k.a. Matthew Fields, who founded Mnml in 2016 and serves as CEO, said the acquisition is a fitting way to continue scaling the business, both at home and abroad.
Still, only about 20 percent of those sales came from outside the U.S. On top of that, year-to-date, Mnml has had double-digit net revenue growth. Mnml, pronounced “minimal,” generated net revenues of nearly $20 million in fiscal year 2020 and is operating profitably - two of A.k.a.’s other requirements. So it kind of checked all the boxes of things we look for in potential brand targets.” And they use a data-driven approach to merchandising, which helps them have their finger on the pulse of what’s hot and what’s cool in streetwear fashion. “These guys are growing faster than the market they’re very profitable, have double-digit EBITA margins, a strong loyal following, a really strong founder team and a lot of continued head room for growth. Brands, told WWD in an exclusive interview. “Everything about this brand was just a perfect fit with our portfolio,” Jill Ramsey, chief executive officer of San Francisco-based A.k.a. Photos of the Best Men's Fashion at the 2021 Emmys Red Carpet Photos from Elle's 2021 Women in Hollywood Event The deal, a combination of cash and equity, is the latest acquisition in A.k.a.’s growing list of digital brands, one that already includes Princess Polly, Petal + Pup, Culture Kings and Rebdolls.Ī Look at Kim Kardashian West's Best Fashion Moments Brands.Įarlier this month, the fashion holding company acquired Los Angeles-based direct-to-consumer men’s streetwear brand Mnml for $48.6 million.
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