- Sara Ehlers |
Los Angeles - Stikeleather Apparel Holdings, Inc. recently announced its acquisition of online women’s retailer White Plum, Inc. The retailer was acquired recently as an addition to Stikeleather’s edgy menswear.
After acquiring White Plum, which currently averages in 9.5 million dollars in annual revenue through its online consumers, Stikeleather has announced new plans to keep the company growing. “By combining both companies, I could create scale and increase revenues dramatically,” Ian Stikeleather, chief executive officer of Stikeleather Holdings, said in a statement. A couple of tactics that Stikeleather already plans to use to build the company include expanding the marketing program, reaching out to retail outlets, and adding new lines. White Plum’s target market is women from age 25-45. Keeping the customer in mind, a way Stikeleather is planning to increase revenue is by adding new clothing lines. Some of the new lines that Stikeleather has confirmed are: a new children’s line called Sugar Plum, an upscale line called the White Plum Collection, and a plus-size line. The idea of the new additions is to think of the customer’s interests and keep adding new products to keep consumers intrigued. Although conjoined, both apparel lines will continue to sell through their own independent e-commerce sites.
Stikeleather has built a following on its patented designs including a seamless, magnetic closure technology. The company plans to bring these closures to White Plum’s womenswear as well, therefore merging the two retailers in a conjunctive way. The two separate retailers were brought together as a strategic move to increase profit. By bringing the two together, the vision allows for the company to expand in multiple ways. Also in the near future, White Plum will relocate its headquarters to Los Angeles, where Stikeleather headquarters is located.