Revamped Bench Brand Sold to Licensee Wraith

The popular streetwear brand, Bench, has recently been sold to Wraith, an affiliate of Apparel Brands and one of its main European licensees. This acquisition comes after restructuring and investment firm Gordon Brothers purchased Bench and its intellectual property assets in the summer of 2018. The financial terms of the deal have not been disclosed.

Bench, once facing financial difficulties and having filed for administration, has undergone significant changes since its acquisition by Gordon Brothers. The investment firm expressed its intention to capitalize on Bench’s rich heritage as one of the pioneering streetwear fashion retailers.

Peter Wood, the owner of Apparel Brands, expressed his excitement about taking over Bench’s brand operations outside of North America. With a strong network of partners throughout Europe and a loyal customer base, Wood sees endless potential for the brand. Ramez Toubassy, the president of brands at Gordon Brothers, added that their asset-light business strategy has allowed them to provide Wraith with a strong foundation for future success.

Under its new ownership, the future of the Bench brand is promising. With Wraith committed to its success and the brand’s established history, Bench has the opportunity to regain its position as a leading player in the global streetwear market.

Links:
1. Apparel Brands website: https://www.apparelbrands.com
2. Bench official website: https://www.bench.co.uk