La Jolla Group Acquires Controlling Stake in Sol Angeles
December 16, 2022 – La Jolla Group, Inc. (LJG) is pleased to announce the addition of Sol Angeles, a premier casual lifestyle brand, to the La Jolla Group portfolio. Designed and manufactured in Los Angeles, Sol Angeles offers premium clothing with a low maintenance approach to refined living perfect for the post-covid consumer lifestyle.
The brand offers a broad range of casual apparel for men, women and kids. In addition to its own website, Sol Angeles products are sold in premium department stores, major retailers, boutiques and resorts.
Eli Myers, Co-founder of Sol Angeles, stated: “We are beyond excited to partner with La Jolla Group. We feel extremely fortunate to have found a partner that feels like an extension of our family. La Jolla has built an extraordinary platform and team, capable of scaling the business we created, without changing the core chemistry and brand values.”
Michael Pratt, La Jolla Group CEO, said: “Manufactured in Los Angeles, Sol Angeles represents the California lifestyle with its premium offering. We believe Sol Angeles has significant growth potential when combined with La Jolla Group’s strategic guidance and operational expertise.”
The investment arm of La Jolla Group has acquired a controlling stake in Sol Angeles and will provide strategic guidance and back-end oversight and support including finance, planning, HR, IT infrastructure, distribution and logistics.
“We have a unique positioning in the consumer goods and lifestyle market with our ‘platform as a service’ offering which supports the growth of consumer businesses by providing guidance and operational expertise. The retail environment is currently challenging and our offering is more critical than ever to accelerate and also de-risk the growth of consumer brands in this period,” noted Daniel Neukomm, Executive Chairman of LJG, “and we are excited to expand our platform through partnership with new brands.”
La Jolla Group provides strategic guidance and operational support to scale emerging consumer brands. Partner brands gain access to a best-in-class infrastructure and an organization with decades of experience. Areas of support include eCommerce management, product development, sourcing, logistics, finance, accounting, IT and HR. By providing these services, LJG allows brands to focus on customer facing functions including design, sales and marketing while eliminating the need to expend time and expense establishing back-end functions.
About Sol Angeles
Founded in 2004, Sol Angeles is a premium California lifestyle brand offering a broad range of products for men, women and kids with a low maintenance approach to refined living. Sol Angeles products are manufactured in downtown Los Angeles with high quality fabric. In addition to its own website, Sol Angeles brand is offered in premium department stores, major retailers, boutiques and resorts across the U.S.
About La Jolla Group
Having held the license for the O’Neill brand since 1993, La Jolla Group is a multi-brand operator of growth consumer businesses. In addition to O’Neill, La Jolla Group designs and distributes the Voyager brand globally and Hang Ten apparel in the United States under license. With years of experience delivering consumer products, La Jolla Group also invests in and provides shared services to growth consumer businesses, including PSD Underwear, Spiritual Gangster, ATWYLD and Mountain Khakis.