Hilco Acquires Portico, Under the Canopy Brands
Jerry Epperson -- Furniture Today, August 1, 2013
NORTHBROOK, ILL. - Hilco Brands LLC, the brand investment and management division of Hilco Global, has acquired the Portico and Under the Canopy brands from New Yorkbased Portico Brand Group.
Hilco Brands' current portfolio of brands and companies include Polaroid, Halston, and Miss America Properties.
"The acquisition of the Portico and Under the Canopy brands is consistent with the focus of Hilco Brands, which is to invest in and help manage exciting brand businesses with promising futures by infusing them with smart strategic thinking and the capital required to thrive," said Jeffrey Hecktman, chairman and ceo of Hilco Global.
Hilco said key members of the Portico Brand Group management team will continue to manage both brands with guidance from Hilco Brands, which will provide capital, corporate management and brand licensing advisory services.
"We look forward to supporting the current management team, led by Marci Zaroff, president and chief marketing officer, and Rachel Whitlow, chief operating officer," said Jeffrey Branman, managing director of Hilco Brands. "Portico and Under the Canopy are exciting brands with enormous growth potential. The eco-friendly, socially responsible products currently being manufactured and marketed by world class licensees provide a solid platform for further growth."
Both brands are currently licensed to major manufacturers, including WestPoint Home and Hunter Amenities International.
The Portico brand includes a full collection of eco-friendly products, including home and hotel furnishings, personal care and beauty products. The brand dates back to 1992, when it opened its flagship retail store on Spring Street in Manhattan's SoHo neighborhood. The store carried high-end furniture, cotton and linen home textiles, specialty bath and spa products, and loungewear. Other locations opened thereafter, and the chain quickly became a destination for decorators, designers, and style-minded connoisseurs of exceptional products.
"Although the retail stores eventually closed, the brand's DNA lived on and thrived through successful licensing strategies," Hilco said in a release.
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