Known for its steadfast design philosophy focused on offering integrated designs for the modern mobile life, Nau will function as a wholly owned, independent subsidiary of the 40-year-old Korean outdoor company. Black Yak purchased Nau from Santa Barbara-based apparel firm, Horny Toad for an undisclosed figure.
Known for its steadfast design philosophy focused on offering
integrated designs for the modern mobile life, Nau will function as a
wholly owned, independent subsidiary of the 40-year-old Korean outdoor
company. Black Yak purchased Nau from Santa Barbara-based apparel firm,
Horny Toad for an undisclosed figure.
Effective
immediately, Nau will add two Black Yak executives to its Portland
leadership team. Mr. Jun Suk Kang, pictured at right, will serve as the
brand’s new president. Mr. DH Lee will serve as vice president and
secretary. Both will join Nau co-founder and GM Mark Galbraith, pictured
at left, in forming the brand’s global growth strategy.
“The Black Yak team is incredibly talented and brings substantial global expertise and resources to Nau,” stated Galbraith. “Beyond Black Yak’s operational capabilities, their team is incredibly invested and passionate in our brand. I feel we have the right partnership in place to realize our full potential while upholding our core tenants in design and practice.”
Based in Seoul, Korea in 1973, Black Yak has built an exceptional reputation in the outdoor industry as a wholesaler, licensee and retailer with more than 300 stores. The Black Yak organization owns and operates the Black Yak label, an authentic mountaineering brand and recognized in the Korean and Chinese marketplace, the Mountia brand, and Nau. Additionally, the company holds licenses to market British Original brand, Karrimor, and Marmot for in South Korea.
“We are pleased to have found a strong and like-minded partner in Black Yak that shares the vision and opportunity Mark and the outstanding Portland team have for the Nau brand," said Gordon Seabury, who spearheaded Horny Toad's rescue of Nau in 2008 after it failed to raise additional capital from private equity investors. "We feel fortunate to have worked together these last five years under challenging economic circumstances to steward Nau from the brink of disappearance to a promising future with the Black Yak team. We will be supporting their effort to build a strong global brand in any way we can and look forward to watching their vision become reality in the coming years."
Black Yak said Nau provides it with a strategic opportunity to lead a paradigm shift in the global outdoor market by helping grow a pioneering brand in fashionable, sustainable outdoor performance on a global basis.
“The partnering of Nau and Black Yak will bring enormous synergy for both brands and we are confident that Nau will capitalize on the growth opportunities within the U.S. and globally,” stated Kang. “With their sense of purpose and design philosophy, Nau has built a truly distinct market opportunity.”
The Nau brand first came to the attention of Kang during a retail visit in Chicago more than five years ago. Recognizing Nau’s refined design aesthetic as a standout on the floor, he made a prophetic promise to himself that one day he would be part of the brand. Some five years later, his family’s business took ownership of the Nau.
Kang and his team have laid out plans to further strengthen Nau’s U.S. infrastructure, investment in innovation and product development and digital marketing. It also plans to hire additional staff to better serve the retail and consumer communities.
Seabury said the transaction allows Horny Toad to focus more of its energy and resources exclusively on scaling the growth opportunity it has established in the outdoor and active lifestyle category with the Horny Toad clothing brand and Lizard Lounge retail laboratory in Portland.
By press release through sportsonesource
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