Bluestar Alliance Expands its Portfolio with Palm Angels Acquisition

In a significant move to bolster its footprint in the luxury streetwear market, Bluestar Alliance LLC announced the acquisition of the iconic brand, Palm Angels. This acquisition reflects Bluestar's strategic expansion into high-end fashion, complementing its recent purchase of Off-White from LVMH. By adding Palm Angels to its diverse portfolio, Bluestar aims to solidify its status as a leader in luxury fashion.

Founded in 2015, Palm Angels has quickly risen to prominence, thanks to its unique fusion of American skate culture and Italian craftsmanship. The brand's distinctive aesthetics and rebellious spirit have garnered a dedicated following among fashion enthusiasts and celebrities alike. Bluestar Alliance’s CEO, Joey Gabbay, expressed enthusiasm about the new addition, stating, "Palm Angels stands out for its remarkable ability to blend streetwear with luxury. We are excited to support the brand as it innovates and expands its global presence. This acquisition aligns with our strategy of enhancing brands with deep cultural significance and strong consumer appeal."

Ralph Gindi, COO of Bluestar, echoed this sentiment, emphasizing Palm Angels’ influence in shaping contemporary fashion trends. He remarked, "The brand resonates with cultural innovators who are pivotal in defining tomorrow's styles. As we embark on this new chapter, we are excited to unite creative talents worldwide to continue influencing fashion's evolution."

Francesco Ragazzi, the founder of Palm Angels, shared his excitement for the brand's future under Bluestar Alliance, noting, "Palm Angels has been at the forefront of merging luxury with street culture. I leave with confidence and wish them success in this new phase of growth."

Palm Angels began as a photographic documentation project by Ragazzi, showcasing Los Angeles' vibrant skater culture. It soon transitioned into a clothing line, rapidly gaining traction in the fashion world. The brand is now synonymous with cutting-edge luxury streetwear, appealing to a diverse global audience.

With over 400 licensees and a branded retail platform consisting of more than 500 stores in regions spanning North America, Europe, Asia, and the Middle East, Bluestar Alliance is well-positioned to elevate Palm Angels’ visibility further. The company has carved a niche for itself in brand management, founded by industry veterans Joseph Gabbay and Ralph Gindi in 2006, overseeing over $9 billion in global retail sales. This strategic acquisition is expected to enhance Bluestar's already impressive portfolio of premium and luxury brands, ensuring that it remains a formidable player in the burgeoning luxury streetwear segment.

As the fashion landscape continues to evolve, the integration of Palm Angels into Bluestar’s extensive network is anticipated to provide innovative synergies that propel both brands forward, appealing to a modern consumer craving luxury that embodies authenticity and cultural resonance.

Bluestar Alliance looks forward to fostering Palm Angels’ creative vision, ensuring its legacy in contemporary luxury streetwear continues to thrive. With an eye towards innovation and global expansion, this acquisition marks a thrilling chapter not just for Bluestar Alliance but for the fashion industry as a whole.