BLUESTAR ALLIANCE BUYS MAJORITY STAKE IN MICHAEL BASTIAN, FORMS NEW VENTURE
Brand management company Bluestar Alliance LLC has acquired a significant interest in the Michael Bastian brand for an undisclosed sum. This new joint venture, MB Brand Holdings LLC, will be well capitalized, in order to expand the footprint of the Michael Bastian brand, especially on the department-store level.
Founded in 2006, Michael Bastian has established a significant profile in the American menswear landscape with his sophisticated, luxurious sportswear and clothing. The brand has garnered six CFDA Menswear nominations, culminating in Bastian winning the Menswear Designer of the Year in 2011. He has also participated in many successful collaborative brand partnerships, including ones with Gant and Uniqlo.
Bluestar also owns, manages and markets a growing portfolio of consumer fashion brands including Nanette Lapore, Catherine Malandrino, English Laundry, Limited Too, Harve Benard and Larry Levine.
“Michael Bastian is a natural fit within Bluestar’s current portfolio of luxury designer brands and rounds out the men’s side of our business,” said Joseph Gabbay, CEO of Bluestar Alliance. “There is a tremendous void in the market for a true American men’s designer brand. By working with him to develop a new mid-level department store tier to his business we will be able to offer his unique American point of view at affordable luxury price points. The first two classifications to roll out will be sportswear and tailored clothing with several category expansions to be announced in the coming weeks. Michael will be working hand-in-hand with our licensing partners to ensure the design aesthetic of the Michael Bastian brand that he is so well known for carries throughout all product lines.”
“As we enter our 10th year in business, this is a great milestone in the history of our brand,” said Bastian. “While we have always been known for our luxury designer line, which we will still maintain, the expansion of our brand into new categories, markets and tiers of business is an important step in our goal of becoming a truly global lifestyle brand.”