Bluestar Alliance Expands Its Portfolio with Palm Angels Acquisition
In a significant move within the fashion industry, Bluestar Alliance LLC has announced the acquisition of Palm Angels®, a prominent name in luxury streetwear. This acquisition aligns with Bluestar's recent purchase of Off-White from LVMH, showcasing their commitment to becoming a powerhouse in the high-end streetwear and luxury fashion markets.
Founded in 2015, Palm Angels has quickly risen to prominence by successfully blending luxury fashion with elements of street culture. With a unique aesthetic that draws inspiration from American skate culture while incorporating Italian craftsmanship, Palm Angels has cultivated a devoted following and considerable influence in the fashion sphere.
Joey Gabbay, the CEO of Bluestar Alliance, expressed enthusiasm regarding this new addition to their growing portfolio. "We are thrilled to welcome Palm Angels into the Bluestar Alliance brand portfolio," Gabbay stated. "The brand’s unique ability to bridge the worlds of streetwear and luxury has set it apart in the fashion industry. We are committed to supporting Palm Angels as it continues to evolve, innovate, and expand its global presence. This acquisition aligns perfectly with Bluestar’s strategy of growing iconic brands with strong cultural relevance and consumer appeal."
Ralph Gindi, COO of Bluestar Alliance, added insights about Palm Angels' cultural significance: "Palm Angels is a brand that speaks directly to the cultural trailblazers—the underground tastemakers and fashion leaders who shape the future of style. In every community, there are those that set the trends. As we enter this exciting new chapter, we're proud to bring together creative forces from around the globe to continue shaping the future of fashion."
Francesco Ragazzi, the founder of Palm Angels, remarked on the brand's progression. "Palm Angels has been shaping the intersection of luxury and street culture. As it enters a new chapter, I step away with confidence and wish them the greatest success ahead."
The inception of Palm Angels began as a photographic project by Ragazzi in 2011, documenting the skater culture of Los Angeles. By 2015, it had evolved into a full-fledged clothing line, becoming celebrated for its contemporary take on various cultural themes combined with a rebellious spirit. Today, Palm Angels is synonymous with luxury streetwear, attracting a diverse array of fans, including fashion insiders, musicians, and celebrities.
Bluestar Alliance itself was founded in 2006 by Joseph Gabbay and Ralph Gindi. The company has carved out a niche in the global brand management space, overseeing a portfolio that boasts over $9 billion in global retail sales across a variety of contemporary and luxury segments. With over 400 licensees and more than 500 branded retail locations across North America, Europe, Asia, and beyond, Bluestar is well-positioned to foster brand growth.
This acquisition marks a pivotal moment for both Bluestar Alliance and Palm Angels, with both entities poised to leverage each other's strengths to navigate the evolving landscape of fashion. As Bluestar continues to pursue iconic brands with deep cultural roots, the integration of Palm Angels promises exciting new opportunities for innovation and expansion in the luxury streetwear market.
Founded in 2015, Palm Angels has quickly risen to prominence by successfully blending luxury fashion with elements of street culture. With a unique aesthetic that draws inspiration from American skate culture while incorporating Italian craftsmanship, Palm Angels has cultivated a devoted following and considerable influence in the fashion sphere.
Joey Gabbay, the CEO of Bluestar Alliance, expressed enthusiasm regarding this new addition to their growing portfolio. "We are thrilled to welcome Palm Angels into the Bluestar Alliance brand portfolio," Gabbay stated. "The brand’s unique ability to bridge the worlds of streetwear and luxury has set it apart in the fashion industry. We are committed to supporting Palm Angels as it continues to evolve, innovate, and expand its global presence. This acquisition aligns perfectly with Bluestar’s strategy of growing iconic brands with strong cultural relevance and consumer appeal."
Ralph Gindi, COO of Bluestar Alliance, added insights about Palm Angels' cultural significance: "Palm Angels is a brand that speaks directly to the cultural trailblazers—the underground tastemakers and fashion leaders who shape the future of style. In every community, there are those that set the trends. As we enter this exciting new chapter, we're proud to bring together creative forces from around the globe to continue shaping the future of fashion."
Francesco Ragazzi, the founder of Palm Angels, remarked on the brand's progression. "Palm Angels has been shaping the intersection of luxury and street culture. As it enters a new chapter, I step away with confidence and wish them the greatest success ahead."
The inception of Palm Angels began as a photographic project by Ragazzi in 2011, documenting the skater culture of Los Angeles. By 2015, it had evolved into a full-fledged clothing line, becoming celebrated for its contemporary take on various cultural themes combined with a rebellious spirit. Today, Palm Angels is synonymous with luxury streetwear, attracting a diverse array of fans, including fashion insiders, musicians, and celebrities.
Bluestar Alliance itself was founded in 2006 by Joseph Gabbay and Ralph Gindi. The company has carved out a niche in the global brand management space, overseeing a portfolio that boasts over $9 billion in global retail sales across a variety of contemporary and luxury segments. With over 400 licensees and more than 500 branded retail locations across North America, Europe, Asia, and beyond, Bluestar is well-positioned to foster brand growth.
This acquisition marks a pivotal moment for both Bluestar Alliance and Palm Angels, with both entities poised to leverage each other's strengths to navigate the evolving landscape of fashion. As Bluestar continues to pursue iconic brands with deep cultural roots, the integration of Palm Angels promises exciting new opportunities for innovation and expansion in the luxury streetwear market.
Topics Consumer Products & Retail）
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