Hotsprings today announced that it has acquired Australian fashion brand Lover.
Lover will join Hotsprings’ stable of Australian fashion brands which includes P.E. Nation, Rebecca Vallance, Cooper St Clothing and Jasmine and Will.
Under the deal Lover co-Founders Nic Briand and Susien Chong will be responsible for design and creative direction, reporting to Hotsprings CEO Joanne Goldman.
Briand and Chong, together with all staff from the original Lover team will relocate to Hotsprings’ headquarters in Alexandria in early 2018.
Lover’s Strand Arcade store will be maintained with a plan to open additional retail stores and invest in online and eCommerce platforms, as well as growing the brand’s overseas footprint through Hotspings’ international distribution network.
"We are excited to acquire Lover and work alongside Nic Briand and Susien Chong, two leading creative talents," Goldman said.
"Lover is an established iconic label with a signature aesthetic and strong brand following. Our entrepreneurial culture and supply chain expertise will give Lover the platform to accelerate its domestic and international growth."
Briand said he looked forward to the future.
“Both Susien and I are very excited about the next stage for Lover.
"With the business strength and acumen of Hotsprings we will now all be able to fully realise the brand’s potential. We would like to thank our staff, creditors and customers for the patience and support they have shown us throughout this period, allowing us to achieve this positive outcome."