Aritzia acquires Fred Segal rights and leases Melrose Avenue site

Aritzia bought Fred Segal's intellectual property and is leasing the brand's Melrose Avenue property in Los Angeles; it plans to restore the site's damaged ivy facade and develop the location for curated product and immersive experiences.

Aritzia Inc. has bought the rights to U.S. fashion retailer Fred Segal and will lease the brand's flagship property on Melrose Avenue in Los Angeles. The Vancouver-based company did not disclose the value or terms of the agreement, but said the purchase includes Fred Segal's intellectual property. Aritzia said it will begin by restoring the ivy facade at the Melrose site, which was damaged in a recent storm. The company also said it plans to develop the location into a space for curated products and immersive experiences over the coming years. Key details: - Aritzia purchased Fred Segal's brand and intellectual property and will lease the Melrose Avenue property in Los Angeles. - The company did not disclose the financial terms of the deal. - Aritzia plans to restore the site's ivy facade as an initial step and to repurpose the location for curated product displays and immersive experiences in the coming years. - Fred Segal dates to the 1960s, became known for trendy clothes and celebrity customers, and had changed hands several times before recently closing its stores. - The article quotes Aritzia CEO Jennifer Wong saying the company is "honoured to steward and evolve this iconic brand for a new generation." - The article also quotes Neil Saunders of GlobalData saying Aritzia does not need Fred Segal and that he suspects the acquisition supports expansion into the U.S. through the Los Angeles flagship. Summary: The acquisition gives Aritzia control of the Fred Segal brand and access to a high-profile Los Angeles location. The company will start with repairs to the Melrose storefront and plans to transform the site into curated and immersive retail space over time. Observers cited in the article frame the move as a way to expand in the U.S. while noting Fred Segal's diminished commercial standing.