True Capital snaps up Bench and Nicce owner, Apparel Brands

Apparel Brands Limited (ABL), the owner of brands Nicce and Bench, has received a strategic investment from a London-based investment and innovation firm as it looks to amp up its operations.

True Capital has snapped up significant control of the UK-headquartered business, which specialises in both the sourcing, design and distribution of apparel and accessories, as well as the licensing and development of branded goods.

ABL is also the licence holder of brands including Ed Hardy, Farah, and Smith & Jones.

Through the investment, True said it is planning to accelerate the growth and expansion of ABL’s brands domestically and internationally, providing the group with the resources and guidance to scale its operations.

This will be done through the acquisition of branded intellectual property and channel and category expansion.

ABL plans domestic and international expansion

In a release, Ejike Onuchukwu, director at True, said: “There is a defensible model at ABL and we see a compelling opportunity to rapidly scale its branded offering by adding complementary properties to its existing portfolio across different price points from value to premium.”

Led by founder and CEO Peter Wood, ABL has positioned itself as a notable partner for retailers, welcoming strong growth since its inception, rising at a three-year CAGR of 52 percent.

Wood said on the new investment: “I am delighted to partner with True. Their deep understanding of brands and the consumer and retail market, coupled with their vast experience in nurturing and scaling successful businesses, will be invaluable as we embark on our next phase of growth."

As part of the investment process, Carl Davies, CEO at Perry Ellis Europe, will support the deal as a non-executive director, offering aid in the execution of the company’s long-term plan.