Activewear brand Lolë just announced that it will be moving its headquarters in Los Angeles. The Canadian label will be using an 18 million dollar cash infusion in order to grow its business.
The parent company of the brand Coalition Inc. has secured the amount in funding from backers and shareholders Simon Equity Partners and Pelican Investment Fund. “Our priorities are developing in the U.S. market, launching men’s and developing internationally,” former Quiksilver president and current chief executive officer of Lolë Bernard Mariette told WWD. “It’s an exciting time because we have the financial resources for hiring new players on the team and a vision that’s strong.” The brand is meant to grow in the next couple of years including U.S. development and e-commerce. The label is also set to launch menswear starting this fall, according to the publication.
Headquartered originally in Montréal and Québec, the brand's strategy now involves bringing its headquarters to Los Angeles this summer. The Canadian label is known for its activewear including yoga pants, swimwear, yoga mats and more. Now that the U.S. has become a priority for Lolë, it makes sense for the label to move towards its stronger athleisure markets.