US investor Gordon Brothers sold British streetwear brand Bench to fashion company Apparel Brands Limited.
Wraith, an affiliate of Apparel Brands, bought the brand for an undisclosed amount. Apparel Brands Limited, currently one of Bench’s primary European licensees, has evolved into “the natural owner” of the brand, according to a statement by Gordon Brothers on Thursday.
“We are incredibly excited to be taking over the reins of the Bench brand outside of the Americas,” said Peter Wood, owner of Apparel Brands Limited in a press release. “With a vibrant portfolio of great partners throughout Europe and excellent awareness and customer affinity, we believe the potential for the brand is sky high,” he added.
Gordon Brothers acquired the Bench brand and its intellectual property assets in July 2018 after the company filed for administration in May of the same year.
The investor restructured the brand business model into one centred on intellectual property and relaunched the brand with its spring 2020 collection. The brand has been positioned to highlight the gritty Manchester skate culture of the 1990s, said Gordon Brothers.