The acquisition strengthens Lolë's presence in the sportswear
market as it continues to grow its portfolio of brands
MONTREAL, Sept. 13, 2024 /CNW/ - Lolë, a global clothing
brand producing premium athletic wear and outerwear, is proud to
announce its acquisition of Louis Garneau
Sports, a renowned company in the field of cycling and
sports equipment with three brands: Garneau, Sugoi and Sombrio.
This strategic acquisition marks an important step in Lolë's
expansion and strengthens its position in the global sportswear
market.
"This is an exciting opportunity to partner with a beloved brand
that brings its unique perspective to our team. The acquisition
will allow us to diversify our product offering and strengthen our
commitment to innovation, quality, and performance, providing our
customers with an even broader range of sports clothing and
equipment," said Todd Steele, CEO of
Lolë.
Louis Garneau Sports was founded
in 1983 by Louis Garneau and his
wife Monique Arsenault, starting out
in his parents' garage. The Quebec
company is widely recognized for its expertise in the design of
cycling clothing and sports equipment. Thanks to this acquisition,
Lolë will benefit from the experience and know-how of Louis Garneau Sports to develop new innovative
collections and meet the growing needs of sports and outdoor
enthusiasts.
"We are proud to join a dynamic and well-respected brand like
Lolë," said Jean-Marc Jahoo, CEO of Louis
Garneau Sports. "Together, we will continue to innovate and
offer high-quality products to athletes and sports enthusiasts
around the world."
This acquisition will be effective immediately, and both
companies will work closely to ensure a smooth transition.
Financial details of the deal were not disclosed.
No comments will be provided by the Parties.
About Lolë Brands
Lolë is a global brand producing elevated active, athleisure and
outerwear versatile and stylish enough to transition from the
studio to the street, and everywhere in between. The Canadian-born
collection is thoughtfully designed in Montreal with smart consumption in mind, using
high-quality materials to last (and look good) season after season.
Lolë clothing is available at more than 1,500 retail outlets around
the world, in Lolë Ateliers and online at lolelife.com. Learn more
and follow on social @lole.
About Louis Garneau
Sports
Louis Garneau Sports is a leader in the cycling and sports
equipment industry. Founded in 1983, the company is recognized for
its innovative products, exceptional quality and commitment to
performance. Learn more at louisgarneau.com, sugoi.com and
sombriocartel.com.
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SOURCE Lolë Brands