Ariela & Associates International LLC, a prominent manufacturer of women’s underwear, has recently acquired the Gen Z-founded underwear brand Parade. The financial details of the transaction were not disclosed. This acquisition signifies Ariela & Associates’ move into the direct-to-consumer underwear retail market, further intensifying competition among major players in the industry.
Ariela & Associates, which holds the master license to sell Fruit of the Loom underwear by Berkshire Hathaway Inc, made the announcement in a statement. The founder of Parade, Cami Téllez, had previously stated that the brand was valued at $200 million in August last year.
The underwear industry is experiencing rapid consolidation as big companies set their sights on younger consumers. Just last November, Victoria’s Secret acquired Adore Me.com Inc. for a minimum of $400 million, and in July, FullBeauty Brands Inc. acquired CUUP Inc.
Cami Téllez, who left Columbia University in 2019 to launch Parade, indicated her potential departure from the company through internal Slack messages. She mentioned that she had not benefited financially from the sale but stated that she would fulfill her responsibilities during the transition period. Additionally, a majority of Parade employees have been offered continued employment.
When Cami Téllez initially founded Parade, her intention was to create an alternative to Victoria’s Secret. In an interview with Bloomberg, she stated that Victoria’s Secret did not cater to her needs or the needs of individuals who resembled her.
The acquisition of Parade by Ariela & Associates marks a significant milestone in the evolution of the underwear industry. Both companies are poised to leverage their strengths and capitalize on the growing demand for inclusive and innovative underwear options.
Ariela & Associates International LLC, a manufacturer of women’s underwear. Acquires Gen Z-founded underwear brand Parade for an undisclosed amount Become a direct-to-consumer underwear retailer The latest to be hijacked by a major competitor
Ariela & Associates, which holds the master license to sell Berkshire Hathaway Inc’s Fruit of the Loom underwear, announced the transaction in a statement. As for the value of Parade, the founder of the brand, Cami Téllez, said in August last year that Parade is worth $200 million.
The underwear industry is rapidly consolidating. As major companies target younger consumers Previously, Victoria’s Secret bought Adore Me.com Inc. for at least $400 million in November, and FullBeauty Brands Inc. was acquired. CUUP Inc. in July.
Cami Tellez, who left Columbia University in 2019 to start a job at Parade, hinted that she might be leaving the company via internal Slack messages, adding that she hadn’t made a single dollar from the sale. statement: Contact Kami Tellez continued. while the parties Continue to work in accordance with your responsibilities. Including the majority of Parade employees they were offered jobs.
When Cami Tellez started her parade, her aim was directed at Ktoria. a secret directly that, he told Bloomberg, “makes me feel like it’s not enough to meet my needs” and that “it’s not a brand for me or for people who look like me.”
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