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a.k.a. Brands completes acquisition of US fashion brand mnml

29
Oct '21

Pic: a.k.a. Brands

a.k.a. Brands Holding Corp., a brand accelerator of direct-to-consumer (DTC) fashion brands for the next-generation, has acquired all of the equity interests of mnml, a US-based digitally native, DTC men’s brand for a total of $48.6 million of combined cash and equity. The acquisition is anticipated to be immediately accretive to net income.

"As a high-growth, content rich, fashion-forward brand, mnml perfectly fits into the a.k.a. portfolio, and I am thrilled to welcome it to our all-star group of DTC fashion brands,” said Jill Ramsey, chief executive officer of a.k.a. Brands. “The brand is a proven performer, and this is another step toward our vision of becoming the global leader in direct-to-consumer fashion for the next generation. The acquisition reinforces our presence in the vibrant streetwear market, and we are confident that mnml has tremendous opportunities for meaningful growth in the US and internationally. I look forward to working with Matthew Fields and the mnml team as we leverage our next-gen retail platform to take this awesome brand to the next level.”

"a.k.a. Brands is a top-tier acquirer and accelerator of DTC brands and the perfect partner to scale mnml," said Matthew Fields, founder and chief executive officer of mnml. "We are confident that our customers and our brand will benefit from a.k.a. Brands’ highly skilled leadership team and their extensive experience scaling successful e-commerce businesses while preserving brand authenticity. We are excited to join the other great brands in the a.k.a. portfolio and work closely with Culture Kings to create value and opportunities for both of our businesses.”

In fiscal 2020, mnml’s net revenue was approximately $20 million and about 20 per cent of that was from outside of the US. Year-to-date, mnml delivered market-beating net revenue growth while also generating double-digit EBITDA margin. mnml will be sold through Culture Kings in the US and Australia in addition to its own website.

The brand has developed a data-driven merchandising model to bring quality, on-trend fashion to customers faster and at an accessible price point. mnml’s authentic social media marketing strategy, highlighted by its more than one million followers across social platforms, drives efficient customer acquisition and strong brand loyalty, a.k.a. Brands said in a press release.

Fibre2Fashion News Desk (RR)

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