Hong Kong based Global Brands Group has bought the Planet Sox brand and business to boost its accessories portfolio.
Global Brands says it has acquired substantially all of the assets of PS Brands, LLC, doing business as Planet Sox, a leader in designing, marketing and distributing socks, legwear, baby shoes and related accessories.
Planet Sox manages a wide range of licensed brands, from entertainment characters and active lifestyle, to ladies’ fashion and men’s fashion. Its portfolio of licenses includes Disney, Nickelodeon, Hasbro, Fila, Head Sport, Kate Spade, Nanette Lapore, and Kensie. Its products are available at multiple channels of distribution, including mid-tier and better department stores, mass stores, athletic footwear chains, specialty stores and off-price retailers.
Dow Famulak, president and COO of Global Brands Group Holding said the acquisition extends the company’s capability to offer character, lifestyle, fashion, sport and private label legwear.
“It is a step in further enhancing Global Brands’ competitive strength in accessories.”
CEO and vice chairman Bruce Rockowitz said the transaction represents a natural extension of the company’s growth platform and aligns well with its strategy to focus on Global Brands’ core product categories.
“We are excited about the opportunities we can leverage to further grow not only our accessories business but also across our entire portfolio of brands.”
In September, Global signed a 10 year licensing agreement to add Buffalo David Bitton and i Jeans by Buffalo to its portfolio of fashion and lifestyle brands, with Global Brands to design, produce and distribute products across both brands’ core categories.