Apparel Group Buys Lifestyle Brand for $3.6M

RAPAPORT... Xcel Brands, which owns several apparel labels, has acquired Logo by Lori Goldstein, a lifestyle brand encompassing clothing and jewelry. Goldstein, an American stylist and designer, launched Logo in 2009. The brand has since clocked up retail sales of more than $1.5 billion, Xcel said Monday. The investment will help enhance the brand's product merchandising and design, according to the new owner.The selling price is $3.6 million, according to an Xcel filing with the Securities and Exchange Commission (SEC). This could rise by $12.5 million, depending on royalty payments.New York-based Xcel specializes in acquiring and developing apparel retail brands. Its portfolio includes Isaac Mizrahi, Judith Ripka, Halston, C. Wonder and Longaberger. "This new venture came as a natural partnership, with a common goal to drive robust expansion and bring the Logo brand into its next phase," Goldstein said. "It will position us for significant growth and to be a leader across multiple channels of distribution."Image: Lori Goldstein. (Lori Goldstein/Facebook)