Gen-Z-Loved Intimates Brand Eyes Expansion After Fruit of the Loom Licensee’s Acquisition
In a move reflecting the evolution of the intimates industry, Gen-Z-favored underwear brand, Parade, announced its acquisition by Ariela & Associates International, the holder of Fruit of the Loom’s bra line license. Although the financial specifics of the deal remain undisclosed, founder Cami Téllez disclosed that Parade’s valuation stood at $200 million as of last August.
Since its inception in 2019 by the then 21-year-old Téllez, Parade has resonated with Gen-Z shoppers, not just for its vibrant products but also its commitment to gender inclusivity and community engagement. Notably, it has rolled out collections catering to trans and non-binary consumers. Eschewing traditional social media advertising, the brand has strategically leveraged its robust base of over 75,000 ambassadors to attract clientele and gather valuable feedback.
This acquisition by Ariela & Associates, which also boasts the license for Berkshire Hathaway Inc’s Fruit of the Loom underwear, is indicative of the larger trend in the intimates industry: heritage firms acquiring younger, consumer-centric brands. For context, Victoria’s Secret & Co. acquired Adore Me.com Inc. in a deal surpassing $400 million last November. Similarly, FullBeauty Brands Inc. took over CUUP Inc. in July, also adding size-inclusive brand Eloquii to their portfolio earlier this year.
Cami Téllez, who once left Columbia University to launch Parade, hinted at a potential departure from the brand. Nonetheless, with Ariela & Associates’ vast resources at its disposal, Parade aims to bolster sales and venture into international markets.
Addressing the future role of Téllez, Ariela & Associates conveyed that discussions are “still in progress.” They further affirmed that a significant portion of Parade’s staff would retain their positions post-acquisition.