Bluestar Alliance Announces Definitive Agreement to Acquire the Kensie, Kensie Girl & Mac & Jac brands. (PRNewsFoto/Bluestar Alliance, LLC)
NEW YORK, Oct. 12, 2011 — Bluestar Alliance, LLC today announced that it has entered into a definitive agreement with Liz Claiborne, Inc. to acquire the Kensie portfolio of brands & related assets. The Kensie portfolio includes the Kensie, Kensie Girl & Mac & Jac brands which will be purchased through a newly formed subsidiary of Bluestar Alliance, KMJ Brand Holdings LLC.
Eric & Lani Karls, the original founders of Kensie, will continue as the Chief Executive Officer & Chief Creative Officer of the company as they have since its inception and will be aligned with Bluestar Alliance in their ownership structure.
Joseph Gabbay, CEO of Bluestar Alliance, LLC commented, “This purchase is consistent with our strategy to acquire consumer brands that offer long-term growth potential while leading their categories in the retail sector. Eric and Lani have built a stable of leading young contemporary brands and we look forward to working with them to continue to build these businesses on a global basis.”
Ralph Gindi, COO of Bluestar Alliance, commented, “The Kensie portfolio is a collection of powerful young contemporary brands which dominate their space on the retail floor. Kensie already has strong licensing partners and a clear brand focus from which we could leverage the rest of our portfolio.”
Eric Karls commented, “As we enter our next stage of growth, Lani and I are excited to be partnering with Bluestar who has a proven track record in dynamic development of worldwide licensing opportunities. The Kensie lifestyle brand is well positioned for this global strategy.” The sale of Kensie is part of a larger sale of several Liz Claiborne, Inc. assets including Liz Claiborne, Monet and Kensie fashion brands for $328 million.
About Bluestar Alliance
Bluestar Alliance, LLC owns, manages and markets a growing portfolio of consumer brands including The Sharper Image®, Liz Lange Maternity® English Laundry®, Hot Kiss®, First Kiss®, Harve Benard® & Completely Me®, Bluestar licenses its brands to a network of best in class manufacturers and retailers both in the U.S. and internationally.
SOURCE Bluestar Alliance, LLC