prAna will look to address the outerwear market through its acquisition of Scapegoat for an undisclosed sum. The deal will give prAna a premium line of technical outerwear, while the new Scapegoat product will be marketed as “Scapegoat by prAna.” In addition to the usual acquisition language, this acquisition also marks a strategic partnership between Scapegoat founders Jason Olden and Eric Lyon and prAna. The Scapegoat brand is described as addressing “the savvy male consumer who values a seamless combination of purposeful function with classic form.” The collection draws mountain outerwear, urban style and classic American work wear for styling, while utilizing technical fabrics and innovative construction techniques.
prAnas decision to acquire Scapegoat was the result of the companys long-standing desire to develop and extend the brand into new categories. “We wanted to cultivate the outerwear category in our own way and after only a few meetings with the Scapegoat team we realized we had a complimentary vision for the market,” Theodosakis went on to say. prAna purchased the complete assets of Scapegoat from the privately-held Goat Function, LLC for an undisclosed sum.
Scapegoat was launched in January 2007 with a collection of mens outerwear jackets for the fall/winter 2007 season. The debut collection reflects Jason Olden and Eric Lyons extensive professional experience in the outdoor and action sports markets as well as their unique perspective on function and design. Under separate multi-year agreements, Olden and Lyon will be working with prAna on ongoing design and development for prAnas outerwear, sportswear and other performance categories.