Untuckit to be acquired by apparel and accessories firm with eye on expansion
A direct-to-consumer brand is getting new owners who plan to accelerate its growth.
Randa Apparel & Accessories (Randa) has entered into a definitive agreement to acquire the Untuckit brand and operations. Terms of the deal, which is subject to customary closing conditions and approvals, were not revealed.
Founded online in 2010, Untuckit built its brand on men’s shirts designed to be worn untucked and has since expanded into an array of other categories including polos, pants, shorts, jeans, sweaters, jackets, shoes and more, along with select womenswear. The company’s footprint includes more than 70 retail stores nationwide along with a “substantial” e-commerce business. Macy’s is among its wholesale partners.
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“We spent 15 years proving that a shirt built to be worn untucked could become a brand people trust,” said Chris Riccobono, Untuckit’s co-founder. “Randa brings something different: more than a century of relationships with the world’s leading retailers and suppliers, along with the global capabilities to help Untuckit reach its next stage.”
Following the close of the transaction, Untuckit and its leadership team will continue to operate from its SoHo headquarters in New York City. The brand will be operated as a standalone business.
The transaction brings together Untuckit’s strong direct relationship with consumers and Randa’s financial strength and global reach to support the brand’s next phase of growth, Randa stated in a release.
“Untuckit did the hard thing: It built a direct relationship with the consumer, store by store and click by click,” said Justin Spiegel, president of Randa. “Randa will add capital, global sourcing and market-leading retail relationships to that foundation. Together, we will accelerate the brand’s growth and introduce it to many more consumers.”
In an interview with WWD, Riccobono said that the brand targets a wide demographic — people aged 25 to 75 — and is on its way “to becoming a very large brand.”
“We believe that this can be a $500 million-plus business,” he said. “Our story is just getting started, and there is so much more we can do together. The skills and resources that got us to this point are different than the capabilities we’re going to need to take this huge next step. Randa provides these capabilities and resources.”
Founded in 1910, Randa is a privately-held global apparel and accessories company with a large portfolio of owned, operated and licensed brands including Haggar, Totes, Calvin Klein, Tommy Hilfiger, Levi’s, Tribal, Columbia Sportswear and Cole Haan.
Its partnerships span every distribution channel: department stores, off-price, mass market, clubs, grocery, and specialty retailers. Randa has operations in the United States, Canada, Mexico, Guatemala, the United Kingdom, South Africa, Australia, China, Hong Kong, India and the Philippines.
