Obscene Jeans Corp., based in Sarasota, FL, signed an Option Agreement to acquire We Are Yoga, LLC, an activewear clothier that produces the successful Wisdom & Co. line of yoga wear.
According to the option agreement, OBJE will have 45 days to conduct a
due diligence review toward a transaction with We Are Yoga. Further terms werent provided.
“The global fitness movement has led to tremendous growth in the market for stylish activewear,” said OBJE President and CEO Robert Federowicz. “It’s a developing luxury market were very interested in exploring, and a definitive agreement with We Are Yoga could give us a foothold.”
The We Are Yoga line includes tops, sports bras, bralettes, pants, shorts and t-shirts. The brand is currently available at stores across the U.S. With OBJE’s developmental support, many more markets could follow.
OBJE noted that although athletic clothing has traditionally been relegated to the gym, increasingly active and informal lifestyles have recently led to an explosion in activewear sales. According to Crain’s New York, total U.S. activewear sales reached $48.6 billion in the 12-month period ending in March, up 3.2 percent from the previous period. The L.A. Times reported this month that mainstream retailers such as Forever 21, the Gap, Target and Victoria’s Secret have recently added yoga and activewear apparel to their brands.
“It’s a relatively new, underserved market with tremendous potential for growth in demand,” Federowicz said. “We Are Yoga could potentially help us diversify our luxury brand lineup into a booming new niche.”
OBJE is an OTCQB publicly traded company.
