Randa Apparel & Accessories (Randa) has entered into a definitive agreement to acquire the Untuckit menswear brand and operations.
Terms were not disclosed.
Founded online in 2010, Untuckit built its brand on men’s shirts designed to be worn untucked and has since expanded into an array of other categories including polos, pants, shorts, jeans, sweaters, jackets and shoes, along with select womenswear. The brand has more than 70 retail stores nationwide along with a “substantial” e-commerce business. Wholesale partners include Macy’s, Von Maur and DXL Big + Tall.
Randa designs, manufactures, and distributes men’s and women’s apparel, belts, small leather goods, neckwear, and seasonal accessories globally. It makes products under its owned brands, Haggar Clothing Co. and Tribal, as well as licensed brands that include Levi’s, Calvin Klein, Tommy Hilfiger, Dockers, and Columbia Sportswear.
The transaction brings together Untuckit’s strong direct relationship with consumers and Randa’s financial strength and global reach to support the brand’s next phase of growth.
“We spent 15 years proving that a shirt built to be worn untucked could become a brand people trust,” said Chris Riccobono, Untuckit’s founder. “Randa brings something different: more than a century of relationships with the world’s leading retailers and suppliers, along with the global capabilities to help Untuckit reach its next stage.”
“Untuckit did the hard thing: it built a direct relationship with the consumer, store by store and click by click,” said Justin Spiegel, president of Randa. “Randa will add capital, global sourcing and market-leading retail relationships to that foundation. Together, we will accelerate the brand’s growth and introduce it to many more consumers.”
The Untuckit business and its leadership team will continue to operate from its SoHo headquarters in New York City.
Randa’s advisors include Consensus Consumer, a division of Origin Merchant Partners, as financial advisor; and Faegre Drinker Biddle & Reath LLP as legal counsel. Untuckit’s advisors include PricewaterhouseCoopers Corporate Finance LLC (financial advisor); Brown Rudnick LLP (legal counsel); The Zegans Law Group PLLC (leasing counsel); and Hilco Real Estate (real estate and leasing advisor).
Image courtesy Randa Apparel & Accessories
