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After Challenging Year, Aritzia Forges Into Menswear With Reigning Champ Acquisition
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As seen in Forbes
Aritzia’s latest foray into men’s wear—with a $63 million purchase of Reigning Champ—comes after the brand’s most difficult year and marks the next chapter for the influencer-favorite Canadian apparel brand.
“The past year has been the most challenging in Aritzia’s history. With that said, we’ve had some exceptional results, including seeing a strong start to fiscal 2022,” Aritzia founder, CEO and chairman Brian Hill said over email.
“In particular, our e-commerce platform’s been hitting new highs on a weekly basis and our U.S. business has been growing at a rate we’ve never experienced before—and our brand is becoming more well known. We wanted to capitalize on that momentum, and this kind of success for Aritzia makes acquisitions like Reigning Champ a possibility.”
The deal is Aritzia’s first acquisition in more than 37 years.