NEW YORK, Oct. 8, 2018 /PRNewswire/ -- October 1, 2018, Bluestar Alliance was selected as the winning bidder for the Brookstone intellectual property and related assets after a robust auction process. Bluestar's bid includes cash and other consideration in excess of $80 million.
Brookstone is an iconic American brand, founded over 50 years ago in New Hampshire. Today a highly recognized brand which develops and offers quality and innovative merchandise, Brookstone's product is distributed through a multi-channel platform of retail, wholesale, catalog and E-commerce. The company has leveraged the success of its breakthrough products in Entertainment, Wellness, Home & Travel products to become a true lifestyle brand. Brookstone's legacy of Quality, Innovation and Solution-oriented products span across a broad range of categories.
"We are honored to have been selected as the new owners of the Brookstone brand," stated Joseph Gabbay, CEO of Bluestar Alliance LLC. "There is strong wholesale demand from retailers for Brookstone product, and we are working closely with them to develop a true Brookstone shopping experience within their retail stores and e-commerce shopping channels. To keep the heritage and legacy that the Brookstone customer enjoys, our licensees will be committed to offering excellence in product design, keeping with the brand's mission of product innovation. Brookstone's robust product legacy has been the cornerstone of our interest in acquiring the brand. The combination of qualified product design, engineering and a true customer experience will be a big win."
"Brookstone's unique presence in airport stores across the United States will be the showcase to grow across the globe in places such as Mexico, South America, Europe, Middle East, Southeast Asia, and Australia. The exposure and marketing that comes from these stores is priceless" said Ralph Gindi, COO of Bluestar Alliance LLC. "In addition, Brookstone has over 550 stores in China with plans to expand throughout Asia and an E-commerce platform with opportunity for growth. Our social and marketing teams are excited to get the brand message out there in all the new and existing mediums."
About Bluestar Alliance LLC
Founded by Joseph Gabbay and Ralph Gindi in 2006, Bluestar owns, manages, and markets a portfolio of consumer brands that span across many tiers of distribution from luxury to mass market. This portfolio consists of major department store retail brands including Tahari, Bebe, Kensie, Catherine Malandrino, Nanette Lepore, Joan Vass, Michael Bastian, English Laundry and Limited Too.
The firm's investment mandate is to identify and purchase consumer brand companies where it can leverage the brand equity and expand its current categories to a broader consumer base. To facilitate the overall strategy Bluestar relies on its branding/marketing knowledge, extensive relationships with retail management, strategic partnerships and brand licensing manufacturing entities.
Each brand is uniquely positioned maintaining the brand heritage and equity, considering new categories and current tiers of distribution. Bluestar's current network of international and domestic partners offers the opportunity to take a niche brand to a visible worldwide lifestyle brand. Since its inception, Bluestar has acquired select brands with current retail sales exceeding $2.5 billion. The company manages a current portfolio of over 250 licensees and a growing branded retail platform of over 100 stores worldwide throughout North America, Europe, Australia, South America, Asia, United Arab Emirates, Middle East, India and Russia.
SOURCE Bluestar Alliance