The new owners of DVS announced today they have already signed new licensing deals in footwear and apparel for the skate and action sports brand.
Sequential Brands Group said in a press release that the guaranteed royalties under the newly signed licensing agreements will be more that the $8.55 million it paid to buy DVS, which had filed for bankruptcy.
Sequential also plans to sell certain non-core assets, it said. It is unclear if that means the Matix brand, which is owned by DVS.
Elan Polo International, a footwear company headquartered in St. Louis, is now the DVS footwear licensee. Other brands in the Elan Polo stable include Build-a-Bear Workshop, Gotcha, Mambo, Vogue, Daniel Green and Skatelab.Sequential CEO Colin Dyne
RSA & Associates has signed on to be the apparel licensee, according to the Sequential press release.
Sequential said both licensees will continue its current distribution strategies and will base primary operations in Orange County.
More DVS licensing agreements in different categories are likely underway as Sequential said it is currently negotiating more deals.
There were several bidders for DVS, and the bankruptcy process included a dramatic auction for the company in a courtroom at the federal court house in Santa Ana last week. Read our story about that process here.
To find out more about Sequential Brands, read our profile of the company.