US clothing brand Dimepiece LA has been acquired by an undisclosed UK-based hedge fund in a US$50m takeover deal that will see the brand re-launched in the UK later this year.
A female-led, woman’s fashion brand, Dimepiece LA launched in early 2007 and offers hoodies, sweatshirts, hats, clutches, and a variety of other accessories in its latest line.
The brand has been worn by former United States First Lady Michelle Obama, celebrity and fashion influencer Kylie Jenner, and acclaimed singer-songwriter Missy Elliot.
Dimepiece LA prides itself on having some of the most environmentally friendly shipping methods, which are designed to be less destructive to both human and animal habitats.
Its acquisition will provide an opportunity for the brand to expand its global footprint, with the hedge fund intending to focus on a UK brand re-launch later this year.
Under the plans, Dimepiece LA will be re-launched with new corporate leadership and what is described as a “slightly different direction”.