Menswear young fashion brand Fly 53 has been snapped up by JD Sports Fashion, the latest label to be added to the retailer’s portfolio.
JD, which has in the last year bought the trading assets of Spanish sports chain Sprinter, menswear brand Peter Werth and streetwear brand Fenchurch, as well as sports chain Champion in the Republic of Ireland, has bought Fly 53 in entirety including assets and brand name. The price of the deal, however, has not been disclosed.
Fly 53, bought by JD last week, will sit within its design and licensing Focus Group division but will continue to trade under its existing name. All 70 staff will remain in the Fly 53 head office and the brand will continue to supply its 180 stockists and 14 House of Fraser concessions.
Fly 53 founder Will Rigg said: “We were coming to the end of the first three years of the plan [after backing from a venture capitalist fund in 2009] and we were looking for the next stage of investment.”
He added that under JD’s ownership the brand would carry on with its expansion plans. Fly 53 currently does not have any standalone stores but has plans in the pipeline to open some.
“We’re going to carry on with our own retail plan, which stalled for a little while. We’re going to drive and push forward our website and step up wholesale distribution internationally,” he said. Fly 53 already distributes to retailers in Spain, Italy and Germany but it will look to strengthen its presence in these countries and then branch out to new markets.