The acquisition strengthens Lolë’s presence in the sportswear market as it continues to grow its portfolio of brands
MONTREAL, Sept. 13, 2024 /PRNewswire/ – Lolë, a global clothing brand producing premium athletic wear and outerwear, is proud to announce its acquisition of Louis Garneau Sports, a renowned company in the field of cycling and sports equipment with three brands: Garneau, Sugoi and Sombrio. This strategic acquisition marks an important step in Lolë’s expansion and strengthens its position in the global sportswear market.
“This is an exciting opportunity to partner with a beloved brand that brings its unique perspective to our team. The acquisition will allow us to diversify our product offering and strengthen our commitment to innovation, quality, and performance, providing our customers with an even broader range of sports clothing and equipment,” said Todd Steele, CEO of Lolë.
Louis Garneau Sports was founded in 1983 by Louis Garneau and his wife Monique Arsenault, starting out in his parents’ garage. The Quebec company is widely recognized for its expertise in the design of cycling clothing and sports equipment. Thanks to this acquisition, Lolë will benefit from the experience and know-how of Louis Garneau Sports to develop new innovative collections and meet the growing needs of sports and outdoor enthusiasts.
“We are proud to join a dynamic and well-respected brand like Lolë,” said Jean-Marc Jahoo, CEO of Louis Garneau Sports. “Together, we will continue to innovate and offer high-quality products to athletes and sports enthusiasts around the world.”
This acquisition will be effective immediately, and both companies will work closely to ensure a smooth transition. Financial details of the deal were not disclosed.
No comments will be provided by the Parties.
About Lolë Brands
Lolë is a global brand producing elevated active, athleisure and outerwear versatile and stylish enough to transition from the studio to the street, and everywhere in between. The Canadian-born collection is thoughtfully designed in Montreal with smart consumption in mind, using high-quality materials to last (and look good) season after season. Lolë clothing is available at more than 1,500 retail outlets around the world, in Lolë Ateliers and online at lolelife.com. Learn more and follow on social @lole.
About Louis Garneau Sports
Louis Garneau Sports is a leader in the cycling and sports equipment industry. Founded in 1983, the company is recognized for its innovative products, exceptional quality and commitment to performance. Learn more at louisgarneau.com, sugoi.com and sombriocartel.com.
SOURCE Lolë Brands
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