Popular women’s fashion chain Aritzia has just joined forces with another Canadian brand, purchasing athletic menswear favourites Reigning Champ for $63 million.
Reigning Champ is still growing, with two stores in Vancouver and two in Toronto, while Aritzia operates 101 stores in North America, with 63 based in Canada and 33 in the U.S.
“We’re excited to welcome Reigning Champ. Rooted in classic, timeless athletic wear, their brand has been carefully curated for just short of fifteen years,” said Aritzia founder and CEO Brian Hill said in a release.
The Canadian womenswear retailer will acquire 75 percent of Reigning Champ with the remaining 25 percent equity interest by 2026.
“Leveraging Aritzia’s unparalleled world-class infrastructure and expertise, this partnership provides an exciting path forward to elevate Reigning Champ to the next level as a premium athletic wear brand. We look forward to working with the incredibly talented Aritzia team to capitalize on the limitless opportunities ahead,” said Hill.
Reigning Champ was founded in 2007 by Craig Atkinson, who was also the creator of wings+horns. The brand is big on e-commerce is also available in retailer stores like Nordstrom and Gravity Pope.
Atkinson said he will continue to operate the business through a partnership with Aritzia. “As an innovative design house offering exceptional experiences through its online and retail platforms, Aritzia’s well-established track record as a successful direct-to-consumer business is one that we’ve long admired,” Craig said in a press release.
Hill also mentioned that capitalizing their world-class operational expertise and infrastructure will make menswear a meaningful part of Aritzia’s platform through Reigning Champ’s acquisition. The ever-growing company has also announced a new location at The Grove in Los Angeles.
