Apparel Brands snaps up majority stake in kidswear label Hype

Fashion distribution company Apparel Brands has announced the acquisition of a 60 percent stake in kidswear label Hype, with the option to purchase the remaining 40 percent from the current owner, investor Sarjan Dulai.

Dulai had previously taken over the brand via a pre-pack administration deal last year, which was then followed by the exit of its co-founders Liam Green and Bav Samani.

Hype has since embarked on a transformation journey under the leadership of its chief executive officer Mike Thompson, who set about reducing stock levels and improving operational performance and efficiency.

Through this latest acquisition, Hype is set to take on a new strategic direction “aimed at becoming the leading brand for kids and families”, Apparel Brands said in a release.

For the distributor, which owns the likes of Nicce and Bench, Hype helps to further “strengthen its position in the family-oriented fashion and accessories market” by leveraging the brand’s existing relationship with younger audiences.

Thompson welcomed the new acquisition, which he noted came at a time when Hype had experienced “tremendous success” on the back of this year’s back-to-school season.

His statement continued: “Apparel Brands is eager to build on this momentum, expanding our reach in key retail locations while continuing to grow our presence across online platforms.

“The high street remains a key part of our strategy as we look to strengthen the brand’s accessibility and connection with families."

Founder and CEO of Apparel Brands, Peter Wood, called Hype a “powerhouse in youth fashion and accessories”, adding: “We have a clear focus on becoming the leading brand for kids and families.

“Hype will be at the forefront of fashion that parents and children can rely on—whether it's for everyday wear, back-to-school essentials, or any other occasion."