Kinzu Brands has announced the signing of a definitive agreement for a management-led buyout of the Sol Sana and From St. Xavier brands, led by co-founder and chief executive officer Michael Shandler and investors.
The transaction was completed on January 7, with both Sol Sana and From St. Xavier brands now owned by Kinzu Brands Pty Ltd., a newly registered Australian company led by Shandler.
Shandler said the acquisition was imperative for the future of both brands.
“The acquisition secures both brands' future growth and potential.
“Sol Sana and From St. Xavier both have tremendous potential for further growth in Australia and internationally and we will continue to invest in new opportunities alongside our brand partners and e-commerce platforms.
“The Kinzu team are all very passionate about our brands and we will carry on our signature handwriting and aesthetic, offering the most exciting contemporary footwear and accessory collections to our markets.
“Bringing the creativity of both our local and international design teams' talent to a global audience.
“All existing employees, designers, contractors, global sales, distribution and service partners will move to Kinzu Brands, there will be no disruption to our business model.
“We are about to launch our Spring 2019 Sol Sana collection in Australia and New Zealand in a few weeks' time, under the Kinzu banner.”
The acquisition of both brands will allow for further expansion into North American markets, with the incorporation of a subsidiary, Kinzu Brands Inc, headquartered in Los Angeles, California.
It will be led by an experienced team with a wealth of experience geared towards consumer goods development, design, product marketing and distribution across North America.
“We have some exciting opportunities that we are finalising and once finalised will be announced.”