Fred Segal, the beloved California retailer known for its stylish and high-end fashion offerings, is gearing up for a major global expansion thanks to its recent acquisition by brand-licensing agency Global Icons. This exciting move signifies a new chapter for Fred Segal, with Global Icons taking the reins of Fred Segal LLC while Evolution Media retains a stake in the company.
With Global Icons at the helm, Fred Segal is set to soar to new heights in three key areas. Firstly, the retailer is planning to enrich its existing collection of apparel and accessories, offering fashion-forward consumers even more choices. Secondly, Fred Segal will be venturing into international markets by opening new store locations, introducing its signature style to a global audience. Lastly, the brand aims to forge new licensing partnerships across a range of product categories, from chic home décor to trendy accessories.
John Frierson, the president of Fred Segal, could not contain his excitement about the endless possibilities that the acquisition presents. In a statement, he shared, “The infusion of new investment and support will unlock incredible opportunities for us to expand into new areas of business. The demand for Fred Segal on a global scale is undeniable, and now we have the resources to capitalize on that.”
Fred Segal has been strategically laying the groundwork for expansion in recent years, evident in the opening of a flagship store on Sunset Boulevard in 2017 and the launch of new locations in cities like Taipei, Kuala Lumpur, and various Swiss cities. The brand is also gearing up to unveil a new store in Malibu later this year, further solidifying its presence in the Los Angeles area.
CEO Allison Samek is confident in Fred Segal’s readiness for growth, stating, “We’ve been diligently building the brand and establishing a strong foundation for future growth. From opening new stores to curating a diverse product range, we have been relentless in sharing our vision with the world. The time is ripe for us to expand exponentially with Global Icons.”
With Global Icons’ proven track record and notable partnerships with renowned brands like Lamborghini and Vespa, Fred Segal is well-positioned to expand its global footprint and cement its status as a fashion powerhouse on the world stage. While the specific terms of the acquisition remain undisclosed, both companies are fully committed to driving Fred Segal’s success on an international level.
To learn more about Fred Segal’s exciting journey and future plans, visit their official website here. For updates on Global Icons and their innovative brand strategies, check out their website here.
