Bollman buys majority share of Kangol from Frasers Group
Kangol has a new — but familiar — owner. Bollman Hat Company has entered into an agreement to acquire 51% of the UK heritage/streetwear hat brand from Frasers Group for an undisclosed sum. The deal includes full intellectual property rights.
The agreement is being seen as a “natural progression” for Bollman which has held the global rights to develop and produce Kangol headwear since 2001.
It allows Frasers Group — which is best known for buying brands rather than selling them — to retain 49% “with continual focus on retail distribution across their store portfolio”, including House of Fraser, USC and Sports Direct.
Bollman noted that headwear is “the leading category that drives the creative direction and inspiration for all other categories of Kangol product. The sale will grant Bollman the rights to apply the same exceptional design, craftsmanship and commitment to innovation to Kangol's full product portfolio and create a cohesive and coveted global lifestyle brand”.
Don Rongione, CEO of Bollman, added: "This is a very exciting time for us and for the brand. Bollman has served as stewards of Kangol, by spearheading the evolution of the brand and its DNA. We have meticulously set the bar for all other Kangol brand development worldwide. It will be exciting for us to be able to apply the same standards to developing and distributing additional categories globally.”
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