Sequential Brands Group, Inc. (OTC: SQBG) (“Sequential” or the “Company”) announced that it has acquired the REVO brand, including all of the related intellectual property and certain other assets, from Oakley Inc. (“Oakley”), a company belonging to the Luxottica Group, for a gross purchase price of approximately $20 million in cash.
In connection with the acquisition, the Company signed a long-‐term license agreement with B. Robinson, a leading eyewear company, to manufacture and distribute REVO sunglasses and related products.
In addition, Sequential signed a ong-‐term partnership agreement with Sunglass Hut to continue distribution of REVO at Sunglass Hut stores globally.
“We are thrilled to add REVO to Sequential’s brand portfolio,” commented Yehuda Shmidman, Chief Executive Officer of Sequential Brands Group. “Together with our new licensee, B. Robinson, we are committed to preserving the DNA of the REVO brand in its core category of eyewear. We are also excited to introduce new product categories that we believe are a perfect fit for the REVO brand, and we will be pursuing new partnerships to execute on this vision. As we combine this product strategy with our soon-‐to-‐be-‐announced marketing strategy, we are confident REVO will resonate with both existing and new consumers.”
“REVO is a powerful brand and has tremendous potential to expand its customer base,” stated Cliff Robinson, President of B. Robinson. We are excited to be partnering with Sequential Brands Group to help further develop the core eyewear technology and expand the business.”
Founded in 1985, REVO, quickly became a global performance eyewear brand known as the leader in polarized lens technology. REVO sunglasses were first created by utilizing lens technology that NASA developed as solar protection for satellites. Nearly three decades later, REVO continues to build on its rich tradition of technology and innovation by offering the clearest and most advanced high-‐contrast polarized sunglasses available. Designed for the active consumer, the REVO eyewear collection is available at Sunglass Hut stores and other premium retail locations worldwide.
REVO is the fourth brand to be added to Sequential’s portfolio in 2013 and the seventh overall.
About Sequential Brands Group, Inc. Sequential Brands Group, Inc. (OTC: SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands that presently includes REVO®, William Rast®, People’s Liberation®, DVS® Action Sports, Heelys®, Caribbean Joe® and Ellen Tracy®. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams. Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and in certain international territories. For more information, please visit Sequential’s corporate website at: www.sequentialbrandsgroup.com. To inquire about licensing opportunities please email: newbusiness@sbg-‐ny.com
About B. Robinson B. Robinson Optical, Inc. has been a leader in the eyewear industry for over 85 years. Known for superior quality as well as unique design, B. Robinson offers many licensed collections including Cole Haan, Cynthia Rowley, Isaac Mizrahi, Ivanka Trump, Izod and London Fog. The company’s luxury division has licenses that include Judith Leiber Eyewear, Betsey Johnson Eyewear, Kata Eyewear and a partnership for the distribution of David Yurman Eyewear