Totes Isotoner reposted this
We are excited to announce the acquisition of Totes Isotoner, the renowned market leader in innovative weather-related accessories, in a landmark partnership with Marquee Brands (Marquee), a leading brand accelerator. With this new acquisition, RAA has acquired the operating assets of totes Isotoner, including inventory and facilities, and will license the IP from Marquee to design, manufacture, and distribute totes and Isotoner products. In an exclusive interview with WWD's Jean Palmieri, Justin Spiegel, EVP & Chief Legal Officer, RAA, acknowledged this acquisition's impact on RAA. "It’s a great opportunity for us,” said Spiegel. “We’re the leader in the accessories category in North America, especially in belts, wallets, and neckwear. This allows us to get into new categories.” The acquisition aligns with RAA’s commitment to market leadership by diversifying its product offerings and distribution channels, including grocery, drug, and convenience locations. In 1942, the first totes rubber rain boots were manufactured, named "totes" for their portability. In 1970, totes introduced the first collapsible umbrella in the U.S., along with rain scarves, rainwear, hats, expanding bags, and slipper socks. Isotoner began in 1910 with the Aris Glove Company, a maker of fine leather gloves. In the early 1970s, Aris created the "Isotoner" glove, combining nylon/spandex fabric with leather trim for a unique 4-way stretch and massaging properties. In 1997, totes and Isotoner merged to form the totes Isotoner Corporation, acquired yesterday by RAA and Marquee. Learn more here: https://lnkd.in/e6qsQwcm #marketleader #acquisition #strategic #partnership