Saadia Group, an American multi-brand, end-to-end platform known for being leaders in product manufacturing, wholesaling, retailing and distribution, has agreed to acquire the assets of its first luxury fashion label, Aquatalia, from Global Brands Group. The acquisition was approved by the US Bankruptcy Court for the Southern District of New York.
The deal is expected to close in the next few weeks.
Saadia Group is acquiring Aquatalia with the vision to enter the luxury footwear market. With Aquatalia’s history of style and craftsmanship, Saadia Group sees it as the perfect label to begin its portfolio within the luxury fashion world, the companies said in a joint media release.
Established in 1994 and crafted in Italy, Aquatalia is renowned for the finest combination of fashion, craftsmanship and comfort in luxury footwear – celebrating ‘functional luxury, versatile style and wearability’.
Jack Saadia, principal and co-founder of Saadia Group said: “The addition of Aquatalia to our growing family of brands strengthens our reach and the ability to serve additional consumers. We look forward to building this brand and are enthusiastic to continue to add to our portfolio within the luxury market.”
Fibre2Fashion News Desk (KD)
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