American Exchange Group, a New York-based fashion accessory products and brand management company, said Aug. 4 it acquired Jacksonville-based Venus Fashion Inc.
Venus, a women’s swimwear and clothing brand founded in 1982, will continue to operate from its headquarters at 11711 Marco Beach Drive in the EastPark business park on the Southside.
“This acquisition represents a significant step forward in our continued expansion into the fashion and apparel category,” American Exchange Group CEO Alen Mamrout said in a news release.
“The brand’s strong identity and loyal customer base align seamlessly with our strategic vision. With our resources and expertise, we’re excited to explore what’s next for the brand and unlock its full potential in the evolving retail landscape,” he said.
The company said it will streamline Venus’ product offerings into curated, seasonal collections and introduce new retail partnerships.
Venus was founded as Titan Bodybuilding, Inc., selling apparel for male bodybuilders, according to its website.
The company expanded into women’s apparel and added the brand name Venus in 1983.
The Venus items sold so well that the company changed its name to Venus in the late 1980s.
Venus was acquired in 2009 by Bonprix, a division of Germany-based Otto Group.
A story in May by FashionNetwork.com said the “weakening of business operations in the USA under the Venus brand had a significant negative impact on the sales performance of the Bonprix Group.”
American Exchange Group did not give any financial details about the acquisition.
American Exchange Group has multiple brands, including Ed Hardy, Aerosoles, Ecko Unltd and Mossimo.
“As we look toward the future, we’re excited to reset and return to the core of what made Venus iconic: bold, effortless, empowering fashion designed with intention,” Venus CEO Laura Bollier said in the news release.
“This new chapter gives us the strategic support to sharpen our focus and thoughtfully expand — while staying rooted in the DNA our customers have always loved,” she said.