After the transaction is completed, other financial and operational details regarding the acquisition will be provided. The two companies stated in a press release issued by joint media that Beyond Yoga will operate as an independent unit of LS&Co, and co-founder Michelle Wahler will continue to serve as its CEO.
The acquisition will bring the Beyond Yoga brand to more consumers through direct-to-consumer expansion, including physical retail, gender and category growth, and further development of wholesale business with high-quality partners.
Through this transaction, LS&Co enters the sportswear category, complements LS&Co’s growing female business, and enables LS&Co to allocate its global resources and infrastructure to significantly expand Beyond Yoga on the basis of its main digital ecosystem.
Chip Bergh, President and CEO of LS&Co, said: “This acquisition establishes LS&Co’s position in the fast-growing sportswear field, and the brand has huge growth potential.” “The foundation established by the Beyond Yoga team, coupled with LS&Co’s resources, The global reach and scale make me believe that Beyond Yoga will become a powerful growth engine for LS&Co and help drive our strategic focus.”
Michelle Wahler, co-founder and CEO of Brand Yoga, said: “We are honored and delighted to be part of the LS&Co family. “Joining their portfolio will allow us to leverage their team’s experience and resources as well as their global base Facilities to accelerate our growth. We are very happy to have LS&Co. to help us expand our brand to a wider audience, because we will continue to promote our mission of tolerance and acceptance of all. ”
Post time: Oct-13-2021