Financial firm B. Riley launches fashion brand portfolio

B. Riley Financial has invested 116.5 million dollars in acquiring the majority ownership of six fashion brands: Catherine Malandrino, English Laundry, Joan Vass, Kensie Girl, Limited Too, and Nanette Lepore.

The financial firm has also agreed to invest in Bluestar Alliance’s recently announced acquisition of surf apparel and accessories brand Hurley, which is expected to close in December.

Bryant Riley, chairman and co-chief executive officer of B. Riley Financial, said in a statement: “The shifting retail landscape has created more opportunities to acquire licenses for established and up-and-coming brands at an attractive valuation. Our significant investment in these seven brands provides balance to our more volatile businesses, while also supporting our dividend strategy.

“Through the formation of this brand investment portfolio, combined with our ongoing partnership with Bluestar Alliance and our existing ownership stake in bebe stores, we believe we have credibly established ourselves as a significant financing source and investment partner to brand management companies.”