Society Brands, the e-commerce aggregator based in Canton, Ohio, has made its first three brand acquisitions with the $205 million it raised early this year.
Society Brands has acquired lifestyle boutique Damn Near Kilt 'Em (DNKE) and two other brands it did not name in a Tuesday announcement.
DNKE sells men's and women's kilts, shirts and accessories "that satisfy and celebrate your inner rebel," according to its website. The other two brands sell specialized chairs and stools for children and consumer electronics, Society Brands said in a statement.
The online store aggregator recently was named a finalist in Cleveland Inno's Fire Awards program, which honors the companies, organizations, entrepreneurs and executives who are setting the Northeast Ohio innovation economy ablaze.
The aggregator of mostly Amazon stores that launched in late 2020 said it has "many acquisitions in the pipeline."
"Since launch, we have seen overwhelming interest from a variety of e-commerce founders and brands," said Michael Sirpilla, CEO of Society Brands, in his company's statement.
Investors rely on aggregators to optimize their brands' channel and sales opportunities while providing them retail and product development expertise, according to a Crunchbase article.
While brands can benefit from having a financial exit, Society Brands encourages its founders to stay onboard after their brands are acquired, the aggregator said.
These founders can join "the society" as brand presidents and access shared resources that can help scale their businesses, it said.
Society Brands expects DNKE to be a template for future acquisitions, the aggregator said.
Since acquiring the kilt retailer, the Society Brands team has developed a three-phase product expansion roadmap for the brand, the aggregator said.
DNKE also has gone through a visual rebrand that includes logos, marks, colors, typography and photographic styles to elevate the brand's visual identity and messaging, Society Brands said.
"DNKE has enjoyed an increase in SKUs and uptick in sales revenue," the aggregator said.
"Future brand acquisitions will have compelling attributes that can seamlessly integrate into our platform, attract a similar customer base and enjoy collective brand assets that can be leveraged across each brand," Sirpilla said.
