Kent, WA—Ricardo Beverly Hills, the luggage and travel accessories company, announced today the recent acquisition of Venice, CA-based Slim, Inc./Stephanie Johnson. Stephanie Johnson is a fast growing designer brand of upscale cosmetic cases and travel accessories.
The acquisition of Stephanie Johnson provides a high-growth platform that will enable Ricardo Beverly Hills to compete in the higher end travel accessories market and further strengthen its position. Terms of the acquisition weren’t released.
Stephanie Johnson will continue to operate independently with Johnson leading the brand as President and some of its current employees continuing to run the day-to-day operations. Stephanie Johnson will continue to build on its expansion across the US and internationally and will now have Ricardo Beverly Hills’ strong financial position and willingness to invest in growth.
“I started this business 16 years ago with a vision to create a stylish haven for all of the travel essentials a woman needs to make her look and feel beautiful,” Stephanie Johnson said. “To fulfill this vision, I needed to find the right partner to help achieve the next level of growth and scale. I believe the opportunities for Stephanie Johnson under the Ricardo Beverly Hills umbrella are endless and I look forward to continue building the brand that our loyal customers have come to know and love with renewed energy and creativity.”
“We believe in Ms. Johnson’s vision and are excited to welcome Stephanie Johnson to our portfolio,” said Paul Sarazin, president of Ricardo Beverly Hills. “Stephanie Johnson is unique and has enormous potential as a travel accessories brand. We see many similarities in the values of our two companies and look forward to creating something greater together.”