Secondly, Paul Blum, best known for helming brands such as David Yurman, Kenneth Cole and Juicy Couture, has been named Sandow’s chief executive officer.
Together, the partners envision a major reinvention of the luxury shopping experience, under the Fred Segal brand, which will combine fashion with dining, entertainment, cultural events and health and wellness programs in footprints of up to 50,000 square feet. The team is targeting up to 10 next-generation Fred Segal lifestyle centers in the United States and abroad over the next five to seven years.
‘Reinvent the Retail Experience’
Paul Blum is expected to lead the expansion of the iconic California Fred Segal lifestyle brand. The forthcoming global luxury retail concept will blend shopping with “innovative art, culture and entertainment experiences,” Sandow said.
Evolution is a joint venture between Evolution Media Capital (EMC), an entertainment, media and sports merchant bank formed in partnership with Creative Artists Agency (CAA); TPG Growth, the middle market and growth equity investment platform of global investment firm TPG; and Participant Media, the global entertainment company founded in 2004 by Jeff Skoll.
Leading entertainment and sports agency CAA will provide expertise in the areas of licensing, branding, digital strategy, content creation and beyond.
“Fred Segal has maintained its authenticity for more than 50 years. Working with powerhouse partners like Evolution, CAA, TPG and Participant Media–as well as Paul Blum, an experienced CEO with deep roots in retail–will allow us to reinvent the retail experience across America and the rest of the world,” said Adam I. Sandow, chairman of Sandow.
The company has already announced several new growth initiatives, including expansion into markets from Las Vegas to Tokyo, as well as branded products and designer collaborations.
“The convergence of fashion, technology and media has created a great opportunity to leverage Fred Segal’s Southern California celebrity heritage,” said Blum, who will be based in the company’s Rockefeller Center headquarters.
Opening in Japan in 2015
“We see in Fred Segal a special opportunity for a lifestyle brand that has already established itself as one of luxury, fashion and the always imaginative California spirit,” said Rick Hess, co-managing partner of EMC. “Paul brings more than 25 years of experience leading some of the world’s best-known consumer product companies. We couldn’t have more confidence in his ability, strategic vision, passion for innovation and deep understanding of design, manufacturing and retailing to lead Fred Segal to the next level of growth.”
While sites for the first full-scale Fred Segal lifestyle locations are still being developed, some elements of the new concept can be seen at its new anchor location in the newly-renovated Tom Bradley International Terminal at LAX, and will be previewed at the Fred Segal Collective, a partnership with SLS Hotel & Casino Las Vegas, opening in August. The seven Fred Segal-branded retail experiences located throughout the property mark the first time a single brand partner has occupied all of the retail space in a hotel.
The stores at the SLS will provide a brand immersion experience across select retail categories including men’s, women’s, accessories, jeans and shoes. A Fred Segal concept is also set to open in Japan in 2015, providing another opportunity to introduce consumers to the new vision for the global Fred Segal brand.