Marquee Brands acquires BCBG Max Azria

On Monday, FashionUnited reported that BCBG received approval for its restructuring program . Following up on Monday's news, this morning, Business of Fashion reported that Marquee Brands has acquired BCBGMAXAZRIA, BCBGeneration and Hervé Léger for 108 million dollars.

BCBG has been going through economic turmoil lately. In March they shuttered 120 stores, and they have spent time trying to figure out how to restructure their debt to keep the company afloat.

Marquee acquires BCBG brands for 108 million dollars

BCBG will join Marquee's portfolio of brands includes Bruno Magli, Ben Sherman and Body Glove.

“Acquiring these three brands is transformational for Marquee as we step firmly into women’s fashion and further diversify our portfolio,” said Zachary Sigel, managing director of Neuberger Berman, the equity company that sponsors Marquee Brands' acquisitions, to Business of Fashion.

Global Brand Group will operate stores and supply chain through a licensing partnership. In the face of lacking brick-and-mortar stores, BCBG will be focusing on shop-in-shops, e-commerce and their department store presence.

“BCBGMAXAZRIA and BCBGeneration each speak to a very specific woman who has come to rely on these brands to help express her unique style and personality," said Cory M. Baker, chief operating officer of Marquee Brands. "Few women’s contemporary brands carry this much affinity among consumers and retailers alike.”

Although things are looking up for BCBG, founder Max Azria and his wife, former BCBG creative director Lubov Azria, were in staunch objection to the bankruptcy plan as it would require them to reveal personal financial claims. FashionUnited will follow this story to see how the negotiations between Azria and his company will play out.

Photo: via Hervé Léger