Centric Brands announced it has acquired select assets of Fownes Brothers & Co., including operations, assets, and intellectual property tied to the design, development, sourcing, production, sales, and distribution of existing cold-weather accessories product lines. Fownes Brothers, founded in 1777 and family-owned by Tom Gluckman and the Gluckman family, is known as an importer and distributor of licensed and private label cold-weather accessories with longstanding retail partnerships.
As part of the transaction, Centric Brands will assume key licenses including Ugg, Timberland, and Cole Haan, and will also take on private label manufacturing agreements with The North Face and lululemon. Centric said the additions strengthen its accessories platform and expand its leadership position in the cold-weather accessories category.
The deal also brings leadership continuity, with Andrew Gluckman joining Centric Brands as SVP, Division Head Cold-Weather, where he will oversee the acquired licenses and support the growth of Centric’s broader cold-weather accessories division. Financial terms were not disclosed.
KEY QUOTES:
“Our growth strategy is built upon developing powerful, scalable brands across key categories, and this acquisition meaningfully advances that approach.”“By integrating the Fownes Brothers business into our accessories platform, we are expanding our capabilities, accelerating scale, and positioning the business for sustained, profitable growth.”
Jason Rabin, Chief Executive Officer, Centric Brands
“By integrating these world-class licenses and private label relationships into our portfolio—and with Gluckman’s leadership—we are well-positioned to expand our accessories business and deliver innovative, high-quality products to consumers across all retail channels.”“This acquisition strengthens our ability to drive category leadership, optimize sourcing and production, and deliver differentiated product across multiple retail channels.”
Jarrod Kahn, Group President, Accessories, Centric Brands
“This marks a new chapter for Fownes Brothers.”“Our family is proud of the legacy we have built in cold-weather accessories, and we are thrilled to bring that expertise and our valued partnerships into Centric Brands.”
Tom Gluckman, Co-founder, Fownes Brothers & Co.
