Singapore investment group CRN has acquired Nikita and Bonfire from Finnish parent company Amer Sports. Pretty Great LLC, a newly formed company based out of Portland, OR, will assume full creative control and CRN will act as the funding partner.
Pretty Great purchased the brands April 1 and immediately assumed full creative control while the two companies cooperated through a 90 day business transition period, according to a statement.
Nikita, founded and still designed by Heida Birgisdottir in Reykjavik, Iceland, offers a year-round offering of street-wear and a snowboard apparel and hard-goods line. Nikita is sold worldwide and is known for its unique signature style and appeal to both action sports and fashion markets. Bonfire, a global snow outerwear business grown in the Pacific Northwest and committed to sound design and function, just celebrated its 25th anniversary last year.
Robert Myers, president of Pretty Great, expressed a cohesive plan for the brands, saying “Our goal, above all else, is to reinforce and maintain the integrity of the Nikita and Bonfire brands. Both have strong stories and timelines within the industry, and we will nurture that at a pace that best protects their heritage.”
Nikita and Bonfire will be managed by Pretty Great LLC and join a roster of curated brands to be announced in the future. Key employees of Nikita and Bonfire will remain with the company, in addition to dynamic new hires, and the brands will continue to be based out of Portland, OR.
Immediate plans include a continued seamless transition for both brands and the sell-in of Nikita’s Spring/Summer 2016 line.
“I am very excited to apply my entrepreneurial and large business background to help realign Nikita and Bonfire to what originally solidified them as such compelling brands and give them the best opportunity for future growth,” said Myers.
Pretty Great, LLC is a company based on the idea that well considered product and brand authenticity are paramount. Pretty Great manages a curated collection of brands that have compelling, authentic and unique identities. The company focuses each brand’s product offering, brand message and customer service to highlight what makes them unique.
