Bluestar Alliance and HoMedics announce the signing of a $165 million Brookstone® license agreement
NEW YORK, Nov. 9, 2018
NEW YORK, Nov. 9, 2018 /PRNewswire/ -- Bluestar Alliance LLC and HoMedics, a Michigan based manufacturer of personal health, wellness and relaxation products, announce the signing of a $165 million, five-year license agreement under the Brookstone brand. The license covers a range of massage, massage chair, home environment and other select product categories.
"We are thrilled to have HoMedics as a cornerstone Brookstone licensee. Our mutual objective is to capitalize and expand upon Brookstone's brand legacy in rest, relaxation and wellness," noted Bluestar Alliance CEO Joey Gabbay. "HoMedics has the superior product development capabilities and the strong retail relationships necessary to fully realize the Brookstone brand's potential."
"Brookstone is an iconic American brand with tremendous positive consumer awareness," said Alon Kaufman, CEO of HoMedics. "We are very excited about how the Brookstone brand can further enhance our leadership position in personal health, wellness and relaxation products by offering compelling quality products synonymous with the Brookstone brand."
The Brookstone brand and intellectual property were acquired by Bluestar Alliance in October 2018 and the brand is being licensed to a host of best-in-class licensees. "The addition of HoMedics to our growing roster of quality licensees is a testimony to the enthusiasm for the Brookstone brand by both manufacturers and strategic retailers alike," said Bluestar Alliance COO, Ralph Gindi. "Moreover, there will be additional announcements of strategic partnerships over the coming weeks."
HoMedics plans to introduce its first collection of Brookstone licensed products at the International Home + Housewares Show in Chicago in March 2019. Products are to be selectively distributed through the retail, e-commerce and hospitality industries across the United States, Canada and Latin America.
About Bluestar Alliance LLC
Founded by Joseph Gabbay and Ralph Gindi in 2006, Bluestar owns, manages, and markets a portfolio of consumer brands that span across many tiers of distribution from luxury to mass market. This portfolio consists of major department store retail brands including Tahari, Bebe, Kensie, Catherine Malandrino, Nanette Lepore, Joan Vass, Michael Bastian, English Laundry, Limited Too as well as Brookstone.
The firm's investment mandate is to identify and purchase consumer brand companies where it can leverage the brand equity and expand its current categories to a broader consumer base. To facilitate the overall strategy Bluestar relies on its branding/marketing knowledge, extensive retail management relationships, strategic partnerships and brand licensing manufacturing entities.
Bluestar Alliance's current international and domestic partners offer the opportunity to take a niche brand to a visible worldwide lifestyle brand. Since its inception, the company has acquired select brands with retail sales expected to exceed $3.0 billion in 2019. Bluestar Alliance manages a current portfolio of over 275 licensees and a growing branded retail platform of over 800 stores worldwide throughout North America, Europe, Australia, South America, Asia, Middle East and India.
As the innovative leader in self-care, wellness and personal health products, HoMedics strives to provide products that promote overall well-being. Founded in 1987, their extensive line of personal wellness products allows you to relax your body, renew your spirit, and simplify your life.
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SOURCE Bluestar Alliance