New York—FAB/Starpoint, makers of handbags and backpacks featuring Hello Kitty, Hanna Montana and Spider-Man and other schoolkids’ favorites, is adding Carlos Falchi to its bevy of licensed brands.
According to an article in today’s New York Post, Steve Russo, FAB’s president and ceo, recently inked a deal with the famed handbag designer as part of a plan to expand into the luxury market. The Post reported that the five-year-deal with Falchi would “guarantee its owners at least $120 million in retail sales.”
Carlos Falchi, who rose to legendary status in the accessories industry in the 1970s, is jointly owned by Windsong Brands and an investment firm headed by former Bloomingdale’s chairman, Marvin Traub.
The Falchi license will purportedly be part of Artisan House, a new luxury division of the New York-based FAB. Mickey Ateyeh, formerly of Accessory Network Group, Lambertson Truex and Hermes, has been tapped to head the new high-end division, The Post reported.
Last year, FAB/Starpoint purchased Isabella Fiore handbags, another higher end handbag brand. More acquisitions of American-based luxury brands may be part of the plan for Artisan House, too.
“There’s a lot to be said for home-grown, American brands—especially if the designer is still in the business,” Russo told the Post.
Already FAB/Starpoint has “poured money into Falchi, beefing up staff at the designer’s Garment District manufacturing facility and upgrading equipment.” Russo told the Post the company’s new luxury division would operate and manufacture much differently from the bulk of FAB/Starpoint products which are mostly made in China.