Sandow Finds Investor, CEO for Fashion Retail Brand
Second major move under Sandow ownership.
Luxe magazine publisher, Sandow, is expanding its fashion and lifestyle retail business, Fred Segal, the company¬†announced¬†Tuesday.
Terms weren't disclosed, but Sandow is partnering with Evolution Media Partners, global investment firm, TPG, and entertainment company, Participant Media, in the deal and has named Paul Blum CEO of Fred Segal.
"The convergence of fashion, technology and media has created a great opportunity to leverage Fred Segal's Southern California celebrity heritage," Blum says in a statement. "I'm very excited to partner with Sandow and our new investors Evolution Media Partners, to build a new and engaging customer experience in the luxury sector."
WWD¬†(via Hollywood Reporter) says that, under Blum, the company has plans to launch 10 "lifestyle centers" worldwide in the next five to seven years.
It's the second major move for the division under Sandow, which purchased the brand in May 2012 for an undisclosed amount. The Los Angeles-based business signed a distribution deal in Japan later that year.