In a strategic move to dominate the high-margin functional accessories sector, Centric Brands announced its acquisition of key assets from Fownes Brothers & Co this January. By absorbing the intellectual property and operational infrastructure of the 249-year-old glove specialist, the New York-based brand collective has secured lucrative licensing rights for Ugg, Timberland, and Cole Haan. Furthermore, Centric assumes critical private-label manufacturing agreements with performance giants Lululemon and The North Face. This consolidation arrives as the global winter wear market is projected to reach $447.8 billion by 2035, with North America alone accounting for over 42 per cent of the sector's current expansion.
Vertical integration and operational efficiency
The acquisition facilitates a direct infusion of technical expertise into Centric’s existing accessories platform. Andrew Gluckman joins as Senior Vice President and Division Head of Cold-Weather, ensuring that Fownes’ centuries-old ‘legacy of the loom’ is maintained within a modern, AI-driven corporate structure. Centric’s proprietary ‘Trend Pulse’ platform - which analyzes over 5 billion real-time data points - will now be applied to the newly acquired licenses to optimize inventory turnover and reduce time-to-market by an estimated 30 per cent. This data-led approach is essential to maintaining Centric's 2024–2027 roadmap, which targets a net sales compound annual growth rate of 6 per cent to 8 per cent, aiming for $3.4 billion in revenue by 2027.
Navigating volatility in a premium segment
Industry analysts suggest, the ‘Fownes Integration’ serves as a strategic hedge against the rising raw material costs currently squeezing the middle-market apparel sector. While domestic fiber availability fluctuates, the premium cold-weather category remains resilient, driven by a 15 per cent increase in consumer spending on high-performance lifestyle gear. Centric is positioning itself to leverage these world-class licenses across mass-market, specialty, and e-commerce channels. By consolidating these high-tenacity brands under one operational umbrella, Centric intends to deliver a 200 basis point annual margin expansion, proving that even in a volatile retail climate, category leadership and technical heritage remain the ultimate commercial currencies.
Centric Brands is a leading lifestyle collective that designs, sources, and distributes apparel and accessories across 100+ owned and licensed brands. Key categories include kids, men's, and women's apparel, with major licenses like Tommy Hilfiger, Calvin Klein, and Michael Kors.
