Texas-based Titan Global Holdings has purchased the majority of assets of Global Brand Marketing – the firm which holds global footwear licences for the likes of Diesel, Seven For All Mankind and Sean John.
The acquisition – the terms of which were not discussed – includes inventory, accounts-receivable and IP assets. Titan has said will be marketing brands worldwide with high quality and well designed apparel and footwear products under the newly formed subsidiary Titan Apparel.
“We see exceptional long-term growth opportunities from this exciting new acquisition,” said Kurt Jensen, chairman of Titan. “We are looking forward to building on the past success that Killick [Datta, who founded GBMI] and his team have achieved as a means to building additional value for our shareholders.”
Datta was named as president and CEO of Titan Apparel.