Collective Licensing International, LLC, owner of the Airwalk and genetic brands, has acquired Toronto, Ontario-based Lifestyle Brands Ltd., owner of the Vision and Vision Street Wear, Vision Skateboards, Vision Snowboards, Premise, Lamar and LTD, Dukes, Rage, Ultra-Wheels, and Skate Attack brands.
CLC will fold the brands into their current model which manages the licensing, marketing communication, and some product design for its action sports brands portfolio.
Bruce Pettet, the current president and CEO of Collective Licensing, will continue in that role with the new company. Jamie Salter, CEO of Lifestyle Brands, will serve as co-chairman of the Board of CLC along with David Preiser of Sunrise Capital Partners. Kenny Finkelstein wont be involved in the day-to-day operation, but will participate on a consulting basis. Pettet said two people will remain in Toronto, but the balance of the operation will be based in Denver. Only Glenn Burton, LBLs licensing head and one admin will remain behind.
Pettet told SEW the mix of the primary skate brands works well together. Airwalk is apparently doing “very well” in juniors and womens and doing a lot of lifestyle product, while Vision is “more core” than Airwalk in the mainstream market.
“Weve been focused the last two years on building and refining the process of brand management,” said Pettet in a conversation with SEW. The company is now expected to maximize that structure with a broader stable of brands. While the brands may be marketed to the mid-market and mass channels, Pettet feels that consumer still requires a level of authenticity for each of the brands. “Wherever they buy a brand they expect it to be authentic,” said Pettet. “We have to determine the best place to reach the consumer with each brand.”
Pettet said that Forzani Group in now part of the CLC ownership structure through their LBL stake. FGL is also the licensee for Vision footwear, which they market along with the Savier brand licensed from Nike Inc.