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Honored Contributor
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Registered: ‎05-23-2015

@Pearley wrote:

@indoor kitty wrote:

@Caaareful Shopper wrote:

@indoor kitty wrote:

@Caaareful Shopper wrote:

@Pearley wrote:

So much for all those people here who have dissed and made fun of this line for years.  Lori is laughing at them...all the way to the bank.


@Pearley  100%

 

 


So we're supposed to like it now because it's making money ?  There are a lot of popular things that many don't like.


 

@indoor kitty   I cannot speak for her, but I don't think that's what @Pearley meant at all.  There are tons of posts characterizing LOGO, and those that like to wear the brand, in the most horrible words. 

 

 

Fashion has always been in the eye of the beholder.  No one will like everything.  But there are some that prefer to insult anyone who does, to try to appear that they have superior taste.  

 

I like about 25% of LOGO that I've seen presented.  Other brands that number is higher, ans some lower.  I would never ask anyone to like what I like, or even care.


@Thaks for your reply. I guess what I never understood about Logo is why it's fans get so defensive about it . I wear what I like and I don't care what anyone thinks. The post sounded like ha ha see we were right all along. Well , sorry my opinion hasn't changed, and guess what , that's ok. 


@indoor kitty  No I don't expect someone to start liking LOGO and no my post wasn't as you interpreted  it.  My point is the OP proves that a whole lot of people don't consider the line to be "clown clothes," don't feel they "wouldn't be caught dead" in them, and don't give a hoot whether they don't see others in their town wearing LOGO.  And I find it very hard to believe you don't understand why posters are defensive about the line when people who don't like LOGO items are so rude about expressing their dislike. There are many ways to express dislike without offending people in their choice of words.

 

@Caaareful Shopper. Thanks, your post was spot on.


@Pearley , We just don't agree about what is rude and what isn't. For the sake of argument, lets's say it was rude, so what ? You don't know these people, or what they wear. I have devoted way too much to discussing a clothing line. I truly do apologize if you consider me rude. 🌺

" You are entitled to your opinion. But you are not entitled to your own facts."
Daniel Patrick Moynihan
Respected Contributor
Posts: 4,363
Registered: ‎09-05-2014

Some terms of the Purchase Agreement.  Lori Goldstein LTD gets about $1.6 million cash up front with additional compensation to come.

 

Pursuant to the Asset Purchase Agreement, subject to the satisfaction of all conditions to the obligations of the Seller and the Buyer to consummate the transactions contemplated by the Asset Purchase Agreement on or before April 1, 2021 (the “Closing Date”), the Buyer will deliver $1,599,558.00 (the “Closing Cash Payment”) to the Seller. In addition, Buyer will deliver $2,044,750.00 (“Additional Cash Payment” and together with the Closing Cash Payment, the “Initial Cash Consideration”) to Seller on the earlier of (i) upon Buyer’s receipt of the first royalty payment from QVC, Inc. (“QVC”) in respect of the Transferred Assets (as defined in the Asset Purchase Agreement), and (ii) one hundred twenty (120) calendar days following the Closing (even if Buyer has not yet received such first royalty payment from QVC in respect of the Transferred Assets, and/or such first royalty payment is less than the Additional Cash Payment).

In addition to the Initial Cash Consideration, the Seller will be eligible to earn additional consideration of up to $12,500,000.00 (the “Earn-Out”), which would be payable, in cash, within 45 days after the end of each applicable calendar year during the Earn-out Period (as defined in the Asset Purchase Agreement) in an amount equal to (i) seventy-five (75%) percent multiplied by (ii) the Royalty Contribution (as defined in the Asset Purchase Agreement) for such calendar year (the “Annual Earn-Out Payment”).

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Posts: 4,363
Registered: ‎09-05-2014

Concurrent with the Asset Purchase Agreement, on April 1, 2021, the Company entered into a ten-year (subject to earlier termination by the Company or Ms. Goldstein) employment agreement with Lori Goldstein such that she will serve as the Chief Creative Officer and Spokeswoman of the Lori Goldstein Brands. Ms. Goldstein is also required to promote the Lori Goldstein Brands through social media, television media (including QVC) and other media as reasonably requested by the Company. The agreement may renew for successive one-year periods upon mutual written agreement between the parties. Ms. Goldstein’s base salary is $900,000 per annum through December 31, 2021 and $1,200,000 per annum thereafter.

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Posts: 3,077
Registered: ‎06-10-2015

Chief Creative Officer is just a title but

"Spokeswoman of the Lori Goldstein Brands. Ms. Goldstein is also required to promote the Lori Goldstein Brands through social media, television media (including QVC) and other media as reasonably requested by the Company." will keep her mighty busy. I wish her well in her new venture. 

Honored Contributor
Posts: 15,644
Registered: ‎04-04-2014

If I'm interpretting the agreement correctly the Q still has debt outstanding to Logo and rather than absorbing the debt XCel is permitting Logo to collect and the funds have been credited to the purchase price....

The way the agreement is structured makes me think the Q is in some trouble....

Trusted Contributor
Posts: 1,770
Registered: ‎03-09-2010

Well, Congratulations to Lori, but there goes quality!  Mizrahi has gone down and you dont see Halston anymore!

Esteemed Contributor
Posts: 5,283
Registered: ‎03-30-2014

Good for her!  Her hard work paid off.

Trusted Contributor
Posts: 1,762
Registered: ‎03-16-2010

i think many individuals who develop brands want to be acquired.

Think about IT cosmetics, Jenner girls brands, Bare Minerals.

Let the big guns take care of business. Take the money.

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Posts: 3,870
Registered: ‎08-08-2011

This was part of a press release on the Xcel Brands website:

 

This new venture came as a natural partnership, with a common goal to drive robust expansion and bring the LOGO brand into its next phase," said Lori Goldstein, Stylist & Designer. "It will position us for significant growth and to be a leader across multiple channels of distribution. My inspiration for designing a lifestyle brand coupled with Xcel Brand's distribution and marketing capabilities and elevated portfolio is a win-win for both parties."

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Posts: 1,523
Registered: ‎08-16-2016

Interesting. Well, this brand will gradually change and eventually be forgotten. In the meantime, a few people will GET a lot more money.

 

It seems inevitable that brands of every type are grown and sold on, sometimes over and over, until they finally become obsolete. Look at the giant hulking ship that blocked the Suez for a week. People making ships made bigger and bigger and bigger ones, until they became too big to fit anywhere. And then a lot of other people LOST a lot of money!