Australian footwear business Accent Group has announced it has acquired online activewear destination Stylerunner.
The deal includes the rights to the Stylerunner name, trademarks, customers and website.
Since its launch in 2012, Stylerunner has built an engaged and loyal customer base and offers exclusive, limited-edition collections from brands including Nike, Adidas, P.E. Nation and Jaggad.
Accent Group CEO Daniel Agostinelli said that the business is thrilled to welcome the Stylerunner business to its portfolio.
"The Stylerunner acquisition represents an exciting opportunity for Accent Group to expand its reach into the growing womens activewear and wellness market in Australia, and globally.
"Activewear is a style trend that isn’t slowing down and we plan to encourage its momentum through strategic moves like this one," he said.
As part of the acquisition, Accent Group will honour Stylerunner's returns and gift vouchers issued prior to the sale.
Stylerunner founder and head Julie Stevanja will continue to direct and curate the brand from its head office in Sydney and posted on LinkedIn celebrating the news.
"I'm thrilled to share that the Stylerunner brand has been acquired by Accent Group, and we'll be joining their portfolio of outstanding retail brands.
"Accent brings decades of expertise in selling sportswear at scale, executing physical retail concepts brilliantly as well as having an award winning online experience and digital team.
"With their investment and strategic support, we are excited about the future of Stylerunner and the new initiatives we will be bringing to the womens sportswear market in the next 12 months and beyond.
"Thank you to Mark Teperson, Matt Durbin, Daniel Agostinelli and the Accent team for their belief in the Stylerunner vision, I look forward to working with you in this next chapter of Stylerunner's future!
"Thank you to our dedicated team, incredible brand partners and supporters, as well as our fantastic customers for helping build the community and brand over the last seven wonderful years.
"Stay tuned for exciting things to come!" she said.
Accent group CDO Mark Teperson also posted on LinkedIn telling his followers to expect big things following the deal.
"Delighted to share that Accent Group Limited has acquired the Stylerunner brand.
"I am also thrilled to welcome Julie Stevanja and the entire Stylerunner team into my portfolio.
"Julie is defined by her relentless vision and tenacity, she has re-imagined and inspired the activewear category for consumers around the world and I am excited to see what the future with Accent brings.
"Stylerunner is the world’s leading digital destination for premium women’s activewear and sneakers with exclusive, limited-edition and on-trend collections of sportswear from over 50 brands, including Nike, Adidas, P.E. Nation and Jaggad.
"We have lots of work ahead of us, but in coming months, customers can expect to see some very exciting things coming their way, including an expanded offering and new brand launches, renewed packaging, sustainability advancements, consumer events, collaborations, innovation and growth of the Flight Mode, Stylerunner and New Guard brands as well as brick and mortar stores over time.
"I wanted to acknowledge the support of our brand partners and vendors for their trust, in addition to the awesome team at Accent who helped to 'make it happen'," he said.
The acquisition was announced on November 14.