Saban Brands has acquired Australian fashion and lifestyle brand Mambo for an undisclosed sum.
Mambo was established by Dare Jennings in 1984 and opened its first store in Paddington, Sydney in 1995. The same year, the brand also opened its first UK store in Covent Garden, London. It is not known how many UK stockists Mambo currently has.
Daniel Castle, managing director of strategic business development at US-based private equity firm Saban Brands, told WWD.com that the acquisition will enable the firm to bring unique fashion and lifestyle brands into key markets and expand its global footprint.
Angus Kingsmill, managing director of Mambo, told the publication that the brand differed from its competitors as it was focused on a licensing model rather than retail stores. Its most recent deal is with DC Comics.
Kingsmill will continue at the company, directing a team of 15 in Sydney, which is expected to expand under Saban’s ownership.
Saban Brands also owns fashion and lifestyle brands Paul Frank and Macbeth.