Clothing seller Kit and Ace bought by company co-owned by Joe Mimran
VANCOUVER – Kit and Ace Technical Apparel Inc. was purchased by a company co-owned by Canadian fashion designer and entrepreneur Joe Mimran.
The price Unity Brands Inc., which is owned by Mimran and veteran retail executives David Lui and Frank Rocchetti, paid for the clothing store, has not been disclosed.
Under the deal, Lui will become CEO at the company’s Vancouver headquarters.
Meanwhile, Kit and Ace’s product design and development will move to Toronto, where it will be managed by Mimran’s creative design center.
Kit and Ace was founded in 2014 by Shannon and JJ Wilson – the wife and son of Lululemon Athletica Inc. founder Chip Wilson.
George Tsogas took over the retailer from Wilson’s family in 2018. He will remain with the company and assume the role of chief operating officer.
This report from The Canadian Press was first published on July 5, 2023.
