Sequential Brands Group Acquires Revo Brand, Inks Global License With B. Robinson for Sunglasses

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NEW YORK— Sequential Brands Group, Inc. (OTC: SQBG) announced today that it has acquired the Revo brand, including all of the related intellectual property and certain other assets, from Oakley Inc., a division of Luxottica Group (NYSE: LUX), for a gross purchase price of approximately $20 million in cash.

In connection with the acquisition, Sequential, which owns, promotes, markets and licenses a portfolio of consumer brands, has signed a long-term license agreement with eyewear company B. Robinson to manufacture and distribute Revo sunglasses and related products. In addition, Sequential said it had signed a long-term partnership agreement with Sunglass Hut to continue distribution of Revo at Sunglass Hut stores globally. The agreement also enables Revo-branded eyewear to be sold at other retailers as well.

“We are thrilled to add Revo to Sequential’s brand portfolio,” commented Yehuda Shmidman, CEO of Sequential Brands Group. “Together with our new licensee, B. Robinson, we are committed to preserving the DNA of the Revo brand in its core category of eyewear. We are also excited to introduce new product categories that we believe are a perfect fit for the Revo brand, and we will be pursuing new partnerships to execute on this vision. As we combine this product strategy with our soon-to-be-announced marketing strategy, we are confident Revo will resonate with both existing and new consumers."

"Revo is a powerful brand and has tremendous potential to expand its customer base,” stated Cliff Robinson, president of B. Robinson. "We are excited to be partnering with Sequential Brands Group to help further develop the core eyewear technology and expand the business.” Robinson also told VMail, “We are honored and humbled that our company now has the opportunity to manage such a prestigious performance sunwear brand. Our main goal is to maintain the incredible product quality and brand heritage that has been built over time and build upon the great success Luxottica has had with Revo.”

Founded in 1985, Revo became a global performance eyewear brand and a leader in polarized lens technology. It was a division of Bausch + Lomb and was a part of the Ray-Ban acquisition in 1999 by Luxottica, later moved under the Oakley umbrella. Revo sunglasses were first created by utilizing lens technology that NASA developed as solar protection for satellites. Today, its advanced, high-contrast polarized sunglasses target the active consumer, and the Revo eyewear collection is available at Sunglass Hut stores and other premium retail locations worldwide.

Revo is the fourth brand to be added to Sequential’s portfolio in 2013 and the seventh overall. The group’s roster also includes the William Rast, People's Liberation, DVS Action Sports, Heelys, Caribbean Joe and Ellen Tracy brands. Sequential employs brand management, design and marketing teams for its brands which are marketed and licensed in the U.S. and certain international markets.

B. Robinson Optical, Inc. has been a leader in the eyewear industry for over 85 years and offers many licensed collections including Cynthia Rowley, Isaac Mizrahi, Ivanka Trump, London Fog and, for distribution outside of optical, Izod and Cole Haan. The company's luxury division has licenses that include Judith Leiber Eyewear, Betsey Johnson Eyewear, Kata Eyewear and a partnership for the distribution of David Yurman Eyewear.