Globe International has acquired 50 percent of fashion swim brand It’s Now Cool, which is sold at retailers such as Free People, Fred Segal, Revolve, ASOS and General Pants.
It’s Now Cool was founded by well-known swim fashion photographer Josephine Clough and surf industry veteran Ryan Stanistreet in Bondi Beach, Australia.
Globe will take over 100 percent of the operational running of the business and will begin selling the brand in the US, Europe and Australia starting in October, Globe CEO Matt Hill told SES. Josie and Ryan will join Globe, along with their key team members, and will keep a design, sales and marketing office in Bondi Beach. Backend operations and support functions will be run from Globe’s headquarters in the US, Europe and Australia.
“It’s Now Cool fits our strategy perfectly, bringing in a new brand and team with great positive energy in a large new distribution channel to our existing brands, a new customer and product category and most importantly, a brand with global scale and potential that we can blow up around the world in North America, Australia, Asia and Europe,” Matt said.
It’s Now Cool launched in 2017 in the e-commerce channel, and then added distribution in fashion, boutique and surf accounts. The brand describes itself as a “super sexy, boundary-pushing swimwear brand with ’90s silhouettes and a love of skimpy, body-showing fits.” The brand focuses on innovation, “fire” collaborations, heat products and sustainability.
“As our brand has grown we’ve found the need to align with a strategic partner,” said Ryan Stanistreet, who has worked at Rusty and O’Neill in Australia. “Globe’s track record of building successful brands and existing infrastructure in the North American and global markets made for a perfect fit.”
Both Matt and It’s Now Cool Founder and Creative Josephine Clough said the two organizations are a good cultural match as well.
“Most importantly, Globe and It’s Now Cool align on our cultural, environmental and brand values which is so important us,” said Josephine, who is regularly commissioned by Sports Illustrated to photograph the magazine’s swimwear shoots.
Matt told SES that Globe believes it’s the perfect time to make a move like this given what is happening with the global economy.
“We are stocked to be doing this deal right now,” Matt said. “Business is going to get tough in the next year or so and we are in a great position to battle the storm but also to do what we always do, which is keep evolving and looking for those strategic moves that make us stronger. When others are already showing signs of damage control and contraction, we are seeing an opportunity to push out aggressively and keep the momentum and excitement in the company moving.”
Globe International is home to the Globe, Salty Crew, FXD and Impala brands. It also distributes several third party industry brands in Australia, including Stussy, Obey and Raen.