Culture Kings is coming to New Zealand
Premium streetwear brand Culture Kings is coming to Auckland, New Zealand. After their recent high-profile acquisition by US-based a.k.a Brands, the move precipitates the retailer’s worldwide expansion. Details of the move are expected soon.
In the words of founders Simon Beard and Tah-nee, the vision for the business “has always been to create the next global retail phenomenon where culture and style collide.” Positioned at the intersection of music, culture and fashion, and always combining online and offline sales channels, they’re pioneering experiential retail in the eCommerce era.
In February, the Australian Financial Review reported that Culture Kings were “swept up in $600m-plus PE bid“. In March it was confirmed that they’d been acquired by a.k.a. Brands, the fashion retail brands investment company of Boston-based Summit Partners. Fellow Australian challenger fashion brands Princess Polly and Petal & Pup, and the US-based Rebdolls, were already part of the a.k.a. Brands portfolio.
a.k.a Brands are building a global platform founded on a new approach to driving growth in digitally-native fashion brands. “Culture Kings is a leading digital and retail destination and exactly the kind of hyper-innovative brand that a.k.a. is designed to support.” said Jill Ramsey, the group’s CEO.
Culture Kings still have a strong bricks-and-mortar presence. They’ve opened flagship locations in key Australian cities – including at the Melbourne laneways, and prestigious Pacific Fair shopping centre on the Gold Coast. As we reported in our recent article 6 Retail Opportunities for 2021, despite eCommerce growth, “The physical store is certainly not dead, otherwise Amazon wouldn’t be building them” – a quote from Michelle Beeson at Forrester Research. Read more in our blog on experiential retail.
In the post-COVID economy, where online shopping grew 57% year-on-year to reach an all-time high in 2020, having a holistic and integrated approach to eCommerce, distribution and retail stores is crucial to succeed as a retailer. Tenant-friendly market conditions for retailers, and the proliferation of alternatives to CBD-retail — like new commercial-residential precincts in metropolitan and suburban areas — is becoming ever-more pronounced. As are prospects for Aussie retailers to make it internationally (clearly)!
Tenant Leasing Group is the Australia and New Zealand tenant representative for Culture Kings.
Phil Reichelt
Founder & Principal, Tenant Leasing Group (TLG)
Phil Reichelt is a property advisor & tenant representative with 25+ years experience in Australia and New Zealand.
He specialises in multi-site retail, mixed-use office & industrial, and warehouse leases of up to 5,000sqm.
Phil negotiates competitive rentals, incentives, and favourable lease terms for retailers, eCommerce, financial services, legal firms, and other commercial occupiers.