UNITY BRANDS INC. ACQUIRES KIT AND ACE TECHNICAL APPAREL INC.
Paving the Way for a New Era of Growth and Opportunity
VANCOUVER, BC, July 5, 2023 /CNW/ - Unity Brands Inc. is thrilled to announce its acquisition of Kit and Ace Technical Apparel Inc. (Kit and Ace), a globally recognized leader in technical lifestyle apparel. Unity Brands, owned by David Lui, Joe Mimran, and Frank Rocchetti, brings a wealth of experience and expertise to propel Kit and Ace into a future marked by enhanced strategic initiatives, expanded market presence, amplified brand campaigns, elevated product offerings, and increased investment in resources.
"We are delighted to embark on this exciting new journey as the proud owners of Kit and Ace," said Mimran. "Kit and Ace is renowned for its everyday essentials that effortlessly combine style, durability, and versatility. We are committed to reinforcing the brand's dedication to quality and fit, offering our guests products that inspire movement and empower individuals."
Under the new ownership structure, David Lui will assume the role of CEO, overseeing the organization's growth, operations, marketing, e-commerce, finance, and logistics from the head office in Vancouver. Meanwhile, product design and development will relocate to Toronto, managed by Mimran's creative design center. Working alongside the new owners, George Tsogas, the previous owner, will remain with the company, ensuring a seamless transition and continued operational excellence. George Tsogas will assume the role of Chief Operating Officer.
"With Joe and Frank's exceptional track record in the retail fashion industry and George's invaluable operational expertise, we have assembled a winning combination that will elevate Kit and Ace's distinctive identity, foster creativity, and deliver unparalleled experiences for our guests," said David Lui.
Collectively, the new ownership team brings a wealth of knowledge, industry expertise, and a deep-rooted passion for the brand. United by a shared vision, they form a formidable leadership team poised to lead Kit and Ace into a new era of innovation, expansion, and success.
"This new chapter will allow us to amplify Kit and Ace's creative vision, providing significant opportunities to expand the brand's retail stores and e-commerce presence," said Lui. "Customers can expect to see the brand take center stage with compelling brand campaigns and a stronger online presence."
David Lui has 25 years' experience as a senior executive retailer on global brands including: ESPRIT, The North West Company, Mark's, SportChek, and KORITE. His strong background in marketing, digital and retail operations has led to the success of multiple global award-winning marketing campaigns and was recognized as the CEO of one of the Fastest Growing Companies in Canada. Lui won the prestigious BDC Young Entrepreneur Award and was named one of Business in Vancouver's Forty under 40. Most recently, he was ranked 11th in the Global CEO Awards.
Joe Mimran is a true pioneer in the fashion industry, having founded or co-founded esteemed brands such as Club Monaco, Joe Fresh, Caban, Pink Tartan, Gry Mattr, and Rise Little Earthling. He has been honoured with numerous industry awards, including the American Marketing Association's Marketing Hall of Legends award, Canadian Style Award, and the lifetime achievement award by the Design Exchange.
Frank Rocchetti boasts an extensive retail background, having held senior merchant roles at Sears and Loblaws, and overseeing captive apparel development for Coles Australia and Kroger US. Most recently, Rocchetti, alongside Mimran, has been instrumental in the transformation of the Canadian brand, Tilley.
Vancouver-based Kit and Ace creates elevated essentials that are SMART (technical, functional, versatile), EASY TO LOVE (comfort and style), and MADE TO LAST (timeless quality vs. fast and trendy). This is clothing you can go anywhere in – indoors to outdoors, boardrooms to beach.
We Exist to Amplify Optimism is our company's Vision, which is brought to life through our products and community programs. We ensure our clothes can stand the test of time, and we know that when you feel good, you look your best. www.kitandace.com
SOURCE Kit and Ace
For media inquiries, or further information, please contact: Christina Bullock, Hot Rod Communications, [email protected], 403.370.0163
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