StreetTrend acquires 100% of fashion sneaker brand P448

Fashion

StreetTrend acquires 100% of fashion sneaker brand P448

06 Oct `20

1 min read

US fashion footwear and street wear brand company StreetTrend LLC recently announced acquiring European sneaker brand P448 from NoThanks SpA, headquartered in Forli, Italy. The new consolidated entity will be called P448 SpA and will become part of the StreetTrend portfolio of footwear and fashion brands. StreetTrend had acquired 30 per cent ownership of NoThanks SpA in 2018. StreetTrend was launched in 2017 by Wayne Kulkin, former chief executive officer (CEO) of Stuart Wetizman, in a joint venture partnership with financial services and brand investment firm Hilco Global and its CEO Jeffrey B Hecktman.US-based brand company StreetTrend LLC recently announced acquiring European sneaker brand P448 from NoThanks SpA, headquartered in Forli, Italy. The new consolidated entity will be called P448 SpA and will become part of the StreetTrend portfolio of footwear and fashion brands. StreetTrend had acquired 30 per cent ownership of NoThanks SpA in 2018.# Kulkin first discovered the P448 brand in 2017 while traveling to Italy to source brands for his new street wear company. After several visits, Kulkin signed an agreement with P448 to serve as the exclusive distributor and marketing partner for United States, Canada, Mexico, China, Hong Kong, Macau & Taiwan under StreetTrend LLC. StreetTrend said in a press release that the P448 brand alone has achieved a compounded annual growth rate (CAGR) of nearly 40 per cent and has dramatically expanded its distribution channels to retailers like Nordstrom, Evereve, Bloomingdales, ShopBop, Revolve, Printemps, Luisaviaroma, Illum, Level Shoes and La Rinascente.

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