London-based brand Nicce acquired by Apparel Brands Ltd

UK streetwear brand Nicce has been acquired by Apparel Brands Ltd for an undisclosed sum.

Nicce, which was founded in 2013 in East London, said the acquisition and support from Apparel Brands will allow it to strengthen its wholesale business and accelerate its e-commerce and international growth.

“Nicce is a brand with a rich background within streetwear and youth lifestyle” said Peter Wood, CEO of Apparel Brands, in a LinkedIn post.

“Over the last 10 years, the Nicce team has built a strong business and continues to grow equity in the brand,” he said.

Nicce describes itself as a brand “inspired by street culture and active lifestyle” and carries apparel and accessories for men and women.

Wood continued: “With Nicce becoming part of Apparel Brands Ltd, we will embed it within an established global operation with investment behind scale in supply chain and the ability to reach new markets.”

Meanwhile, the deal will allow Apparel Brands to diversify its portfolio, with Nicce’s acquisition supporting “strategic priorities, particularly around choice and premiumisation”.

The move comes after Nicce opened its first physical store last year in London. The 1,400 square foot space spans two floors and is located on the corner of Carnaby Street and Beak Street.

Last February, when the brand announced the store opening, it said it had enjoyed double-digit growth over the past few years as it expanded its global reach through its retail partners and online store.

Chief commercial officer Matt Bullock said at the time: “The opening of our Nicce flagship store in Carnaby is part of our continued investment into direct-to-customer, accelerating the brand’s awareness through a priority retail trade zone and providing a space for customer interaction and community building, that remains at the core of our brand values.”