Centric Brands Acquires Maker of Ugg, Lululemon and Cole Haan Cold-weather Accessories

Core Insights - Centric Brands is expanding its operations through the acquisition of select assets from Fownes Brothers & Co, focusing on cold-weather accessories [1][2] - The acquisition includes key licenses such as Ugg, Timberland, and Cole Haan, along with private label agreements with The North Face and Lululemon [2] - Andrew Gluckman from Fownes Brothers will join Centric Brands as senior vice president and division head of cold-weather [3] Company Strategy - The CEO of Centric Brands, Jason Rabin, emphasized that the acquisition aligns with the company's growth strategy of developing scalable brands across key categories [4] - The integration of Fownes Brothers into Centric's accessories platform is expected to enhance capabilities, accelerate scale, and support sustained profitable growth [4] - Jarrod Kahn, group president of accessories, stated that the acquisition positions Centric Brands well to expand its accessories business [4] Legacy and Expertise - Tom Gluckman, cofounder of Fownes Brothers, expressed pride in the legacy of the company and excitement about bringing their expertise into Centric Brands [5] - The acquisition is seen as a new chapter for Fownes Brothers, enhancing their partnerships and expertise in cold-weather accessories [5]