GBG Socks, LLC | Planet Sox

Global Brands Group Extends its Capabilities in Accessories with Acquisition of PS BrandsHong Kong, 6 November, 2015 - Global Brands Group Holding Limited ("Global Brands"; SEHK Stock Code: 787), one of the world's leading branded apparel, footwear, fashion accessories and lifestyle product companies, today announced its subsidiary has acquired substantially all of the assets of PS Brands, LLC, doing business as Planet Sox, a leader in designing, marketing and distributing hosiery products across multiple categories, including socks, legwear, baby shoes & accessories. The acquired business will be a core addition to Global Brands' accessories business.Planet Sox manages a wide range of licensed brands, from entertainment characters and active lifestyle, to ladies' fashion and men's fashion. Its portfolio of licenses includes Disney, Nickelodeon, Hasbro, Fila, Head Sport, Funky Socks, Kate Spade, Nanette Lapore, and Kensie. Its products are available at multiple channels of distribution, including mid-tier and better department stores, mass stores, athletic footwear chains, specialty stores and off-price retailers.Elie Levy, founder, will continue to run the business as President of GBG Socks, LLC, Planet Sox. Dow Famulak, President and Chief Operating Officer of Global Brands Group Holding Limited, said, "This acquisition extends our capability to offer character, lifestyle, fashion, sport and private label legwear. It is a step in further enhancing Global Brands' competitive strength in accessories."Bruce Rockowitz, Chief Executive Officer and Vice Chairman of Global Brands Group Holding Limited, said, "The transaction represents a natural extension of our growth platform and aligns well with our strategy to focus on Global Brands' core product categories. We are excited about the opportunities we can leverage to further grow not only our accessories business but also across our entire portfolio of brands. A member of the Fung Group