The Dutch Sportswear label Balr. Write a new chapter after the bankruptcy. According to a press release, the brand was taken over by the Sumwon Studios company based in Dubai. The amount of the purchase price is not known.
Sumwon Studios now intends to re -launch the brand. “Balr. Has a unique DNA. The brand is authentic, ambitious and anchored in the sports world,” said Nitin Passi, the managing director and founder of Sumwon Studios. “We see the chance to re -position Balr. At the interface of football, fashion and lifestyle: with new energy, cooperations and global reach.”
Sumwon Studios holds various licenses from brands such as Missguided and Sumwon. “We are building up a next generation fashion group, and Balr. Fits our vision perfectly,” says a message. The company therefore plans to acquire other brands and licenses.
Missguided founder Nitin Passi takes over Balr.
Sumwon Studios is a relatively young company. It was established in 2023 by Passi, the founder of the fashion label Missguided. Although Sumwon Studios is only three years old, the company expects sales of over one billion US dollars (around 920 million euros) this year. It is noteworthy that Shein is one of the strategic investors. “The takeover of Balr. Fits the strategy of Sumwon Studios, brands that are in the center of pop culture, to acquire, build, build, and scale with a direct-to-consumer model, digital storytelling and first-class infrastructure,” said the company.
Balr. was founded in 2013 by Demy de Zeeuw, Juul Manders and Ralph de Geus. Later the football players Gregory van der Wiel and Eljero Elia were added. The brand positions itself as a luxury lifestyle label and is inspired by the world of professional footballers. The parent company of the label had to register bankruptcy in July, the process was opened shortly afterwards. There were several interested parties for the brand quickly. Now Balr. under the new owner Sumwon Studios.
This article was used with digital tools translated.
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