There’s change on the horizon for Dakine.
The Hood River, Oregon, brand was acquired this week by Marquee Brands, a New York licensing and development company that also acquired legacy surf brand Body Glove in 2016.
Under the deal, Marquee has also entered into a long-term license agreement with JR286, that will function as an operating partner for the brand. JR286 is headquartered in Southern California and provides global product design, development, sourcing and distribution support for athletic, fitness and outdoor and accessory products.
"Marquee Brands' vision is to intensify Dakine's focus on producing high quality products for its snow, surf and bike customers while also pushing the brand to explore exciting and uncharted waters,” said Michael DeVirgilio, president of Marquee Brands.
Marquee and JR286 will maintain dedicated teams for the brand in Hood River, Los Angeles, California, and Annecy, France. Ken Meidell, Dakine's current CEO, will be joining the Marquee Brands team.
Beyond Body Glove and now Dakine, Marquee’s brand portfolio includes fashion brands Bruno Magli, Ben Sherman, BCBGMAXAZRIA and BCBGGeneration. Together, Marquee brands are valued at $1.5 billion in retail sales, according to a company statement.
“We are proud to have a team of brand enthusiasts from Dakine, led by Ken, joining the Marquee family," DeVirgilio said.
"Dakine is a high quality brand with a performance integrity and legacy of innovation that has allowed it to develop a fiercely passionate customer following, and which we believe is ripe with untapped growth potential,” said Zachary Sigel, managing director of Neuberger Berman, the private investment firm assisting Marquee in the deal. “This brand is truly emblematic of the types of acquisitions we seek to make for the Marquee Brands portfolio."
Stay tuned for more information on this news, as it becomes available.
More TransWorld Business content