Off-price specialist BrandAlley has acquired a majority stake in sneaker reseller The Edit LDN, with the new owner saying the buy will support its long-term sustainable aims.
The Edit LDN will also assist it in utilising “innovative new channels to maximise customer experiences,” the statement continued.
The Edit, which has agreements with Harvey Nichols, Galeries Lafayette, and Harrods, claimed that its Q4 cash flow was constrained by the economic hardships of the previous year, so it decided to “consolidate with an industry leader.”
Given its new acquisition’s “more youthful customer demographic and substantial community of engaged followers,” BrandAlley believes the purchase is a good one.
The company has recently been searching for new ways to expand, and as recently as last autumn, it contributed 50 per cent of the most recent fundraising round for the upscale secondhand marketplace Sign of the Times.
BrandAlley’s CEO, Rob Feldmann, emphasised the company’s 8 million members-only database, in-house warehouse operations, and customer service team as assets that should support the company’s goal of “driving profitable growth of The Edit LDN globally through Moses [Rashid] and his team and providing full operational support across our group of companies. We are eager for the exciting voyage that lies ahead.”
And Edit CEO Rashid added that 2023 was a year of positive growth and revenue, but also “a difficult period with financial challenges being accelerated by external funding sources that we had on our creditor books. In order to continue to achieve our growth goals, it was crucial to act fast to find a long-term partner who sees the potential to take Edit LDN global and offers the operational infrastructure required for sustainable growth. This move will bring confidence to our community, suppliers and the reseller industry as a whole.”
