Jacksonville-founded Venus Fashion acquired by American Exchange Group (Courtesy of the Jacksonville Business Journal) — Jacksonville-based Venus Fashion has been acquired.
Announced on Aug. 4, American Exchange Group, a leader in accessories design, licensing and manufacturing, acquired the heritage women’s fashion brand.
For Venus, the purchase represents an opportunity to reorganize again in an ever-shifting marketplace.
“As we look toward the future, we’re excited to reset and return to the core of what made Venus iconic: bold, effortless, empowering fashion designed with intention,” Laura Bollier, CEO of Venus, told the Business Journal in an email.
This new chapter for Venus will be defined by more streamlined product offerings, more curated seasonal collections and new retail partnerships. The brand will continue to operate from its Jacksonville headquarters, according to a statement, with “an emphasis on digital growth and enhanced customer engagement.”
Nearly four decades old, Venus first reorganized in 2009 when Bon Prix, a subsidiary of German-based Otto Group, thought it was worth a $3 million investment. All seemed rosy when company sales increased from a little less than $30 million to about $281 million in 2016, but a slow economy and subsequent pandemic led to 2020 and 2023 layoffs and reorganization.
Two years later and AEG believes that it can bring back the four-decade old brand.
For AEG, the acquisition marks a significant step towards a more diversified portfolio of owned and licensed fashion and lifestyle brands. Venus women’s wear joins an accessories, footwear, beauty, home and apparel lineup that includes brands such as Aerosoles, NatureWell, Indie Lee, and Jonathan Adler.
Venus gives AEG an established label to further vary offerings and expand into new market segments.
“The brand’s strong identity and loyal customer base align seamlessly with our strategic vision. With our resources and expertise, we’re excited to explore what’s next for the brand and unlock its full potential in the evolving retail landscape,” Alen Mamrout, CEO of American Exchange Group, said in a statement.
Financial terms of the deal were not disclosed.