Creative director Joe Mimran walks the runway at the end of the Joe Fresh show during Toronto Fashion Week in Toronto on Wednesday, Oct. 24, 2012. Kit and Ace Technical Apparel Inc. has been bought by a company co-owned by fashion designer and entrepreneur Joe Mimran. THE CANADIAN PRESS/Nathan Denette
Republished July 05, 2023 - 5:05 AM
Original Publication Date July 05, 2023 - 4:16 AM
VANCOUVER - Kit and Ace Technical Apparel Inc. has been bought by a company co-owned by Canadian fashion designer and entrepreneur Joe Mimran.
The price paid for the clothing retailer by Unity Brands Inc., which is owned by Mimran and veteran retail executives David Lui and Frank Rocchetti, was not disclosed.
Under the deal, Lui will become CEO based at the company's head office in Vancouver.
Meanwhile, Kit and Ace's product design and development will relocate to Toronto where it will be managed by Mimran's creative design centre.
Kit and Ace was founded in 2014 by Shannon and J.J. Wilson — the wife and son of Lululemon Athletica Inc. founder Chip Wilson.
George Tsogas acquired the retailer from Wilson's family in 2018. He will remain with the company and assume the role of chief operating officer.
This report by The Canadian Press was first published July 5, 2023.
News from © The Canadian Press, 2023