Posted on 7/12/2022 1:36:02 PM
On the heels of our recent earnings report from Q1 of 2022 that shows our continued positive momentum – including revenue growth in our owned brands by 68% versus the first quarter of 2021 – this is a perfect time to reflect on what we mean by “owned brands,” how they uniquely position Designer Brands and how our customers benefit.
While our customers come to us for all the great national brands, our owned brands are those in which DBI has guaranteed access for a set period. In some cases, we own the brands outright, like with Vince Camuto or Crown Vintage. In the case of Jessica Simpson, we have a contractual license to the brand. And with some, we have a customized arrangement with special terms, like our recent additions of Hush Puppies and Reebok. Our other owned brands include JLO Jennifer Lopez, Mix No. 6, Lucky Brand and Kelly & Katie. And we just announced a new licensing agreement with Le TIGRE 360 Global. Le TIGRE is an American apparel brand originally created in 1977.
While the legal jargon and specific details with each owned brand may vary, each of these agreements solidifies DBI’s positioning as brand builders and allows us to control our own destiny with access to the brands our customers love.
And it always comes back to our customers. Our owned brand relationships allow us to be responsive to our customers’ evolving interests and provide them access to items they won’t find anywhere else. For instance, the agreement with Reebok guarantees differentiated colors and styles exclusive to DBI, as well as current product. And we will exclusively design and produce Le TIGRE footwear, enabling us to grow the important athleisure category.
Our strategy to become brand builders and control our own destiny takes many shapes and forms, and our owned brands allow us a unique opportunity to give our customers exactly what they desire. The collective offerings mean there’s something for everyone, no matter a shopper’s budget, needs or preferences.
All provided by best-in-class associates who continue to go the extra mile to serve our customers and, once again, inspire self-expression.