portfolio and work closely with Culture Kings to create value and opportunities for both of our businesses.”Īdditional details on the transaction will be discussed on the company's third quarter 2021 earnings conference call, the date of which will be announced in the coming weeks.Įstablished in 2018, a.k.a. 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. "We are confident that our customers and our brand will benefit from a.k.a. Brands is a top-tier acquirer and accelerator of DTC brands and the perfect partner to scale mnml," said Matthew Fields, founder and chief executive officer of mnml. I look forward to working with Matthew Fields and the mnml team as we leverage our next-gen retail platform to take this awesome brand to the next level.” The acquisition reinforces our presence in the vibrant streetwear market, and we are confident that mnml has tremendous opportunities for meaningful growth in the U.S. mnml’s merchandising expertise and highly loyal customer base provides synergistic opportunities with Culture Kings that we believe will unlock compelling growth for both brands. “The brand is a proven performer, and this is another step toward our vision of becoming the global leader in direct-to-consumer fashion for the next generation. portfolio, and I am thrilled to welcome it to our all-star group of DTC fashion brands,” said Jill Ramsey, chief executive officer of a.k.a. "As a high-growth, content rich, fashion-forward brand, mnml perfectly fits into the a.k.a. and Australia in addition to its own website, mnml.la. mnml will be sold through Culture Kings in the U.S. Year-to-date, mnml delivered market-beating net revenue growth while also generating double-digit EBITDA margin. In fiscal 2020, mnml’s net revenue was approximately $20 million and about 20% of that was from outside of the U.S. mnml’s authentic social media marketing strategy, highlighted by its more than one million followers across social platforms, drives efficient customer acquisition and strong brand loyalty. The brand has developed a data-driven merchandising model to bring quality, on-trend fashion to customers faster and at an accessible price point. As an early mover in the DTC streetwear segment, mnml has created powerful brand recognition and is an established destination for modern wardrobe staples, current trends and highly sought-after styles. The acquisition closed on Octoand is anticipated to be immediately accretive to net income.įounded in Los Angeles in 2016, mnml is a high-growth men’s streetwear brand that designs premier, fashion forward apparel at affordable prices. based digitally native, DTC men’s brand for a total of $48.6 million of combined cash and equity. Brands” or the “company”), today announced that it has acquired all of the equity interests of mnml, a U.S. (NYSE: AKA), a brand accelerator of direct-to-consumer (DTC) fashion brands for the next-generation, (“a.k.a.
0 kommentar(er)
