Palm Angels Strengthens Bluestar Alliance's Luxury Urban Wear Portfolio
Deal News | Feb 11, 2025 | PR Newswire Cision Bluestar Alliance, LLC
Bluestar Alliance, a prominent global brand management firm, announced its acquisition of luxury urban streetwear label Palm Angels. This move follows their recent acquisition of Off-White from LVMH, reinforcing Bluestar's footprint in the upscale urban fashion market. Known for combining luxury with urban culture influences, Palm Angels has established itself as a leading brand under the guidance of founder Francesco Ragazzi. The acquisition aligns with Bluestar's strategic initiative to amplify its portfolio of culturally significant brands. CEO Joey Gabbay emphasizes the brand's unique ability to bridge urban and luxury fashion, while COO Ralph Gindi portrays Palm Angels as a trendsetter that influences fashion's future. With a dedicated following among fashion aficionados, musicians, and celebrities, Palm Angels further consolidates Bluestar's leadership in the global luxury urban fashion landscape.
Sectors
- Fashion
- Luxury Goods
- Brand Management
Geography
- United States – Bluestar Alliance is based in New York, indicating significant operational influence in the U.S. market.
- Italy – Palm Angels, known for Italian craftsmanship, reflects its influence and roots in the Italian fashion landscape.
- Global – Palm Angels has a global footprint, and Bluestar Alliance has a presence in North America, Europe, Asia, and other key regions, indicating an extensive geographic reach.
Industry
- Fashion – The acquisition involves Palm Angels, a brand in the fashion industry focusing on luxury urban streetwear.
- Luxury Goods – Palm Angels operates within the luxury sector, and the acquisition expands Bluestar's portfolio in high-end fashion.
- Brand Management – Bluestar Alliance is a brand management firm, indicating the focus of the acquisition on expanding and managing brand assets.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bluestar Alliance LLC | Acquirer | Company | A global brand management company that expands its portfolio with the acquisition of Palm Angels. |
| Palm Angels | Target | Company | A luxury urban fashion brand known for blending American skate culture with Italian craftsmanship. |
| Joey Gabbay | CEO of Bluestar Alliance | Person | Leader of Bluestar Alliance overseeing the strategic acquisition of Palm Angels. |
| Ralph Gindi | COO of Bluestar Alliance | Person | Chief operating officer contributing to the acquisition strategy at Bluestar Alliance. |
| Francesco Ragazzi | Founder of Palm Angels | Person | Creator of the Palm Angels brand which blends luxury with urban style. |
| SARAH ROSEN | Contact Person | Person | Public relations contact for Bluestar Alliance providing acquisition details. |