After almost precisely three years of operations, it’s my pleasure to announce that Edition Collective, including our brands Imprint and Foremost, have been acquired by Q Fifty One.
For those of you unfamiliar, Q Fifty One owns and operates two brands, Q Clothier and Rye 51, in brick and mortar locations across the U.S. The former, Q Clothier, is a custom suiting concept, offering a high-touch experience for discerning gentlemen. The latter, Rye 51, is a curated retailer, not unlike Imprint (formerly Need), offering exclusive products from worldwide brands and from their in-house line.
Q Fifty One is, in many respects, an aberration in the world of retail. They’re self-funded, profitable, and have been focused almost exclusively upon brick and mortar growth. And, yet, they’re generating eight figure revenues and expanding rapidly across the country.
And they’ve done so by adopting an indefatigable focus upon experience in their stores.
For most of you, frankly, I doubt you’ve heard of them. And, truly, that’s part of the beauty of the situation. We could’ve been acquired by a well-known, faceless organization or something growing in a dignified, sustainable manner. And once there, we could’ve contributed to some iterative changes or to craft something fundamentally meaningful and new. In Q Fifty One and its brands, we identified and opted for the latter in both cases, which is a truly unique privilege.
In terms of next steps, they’re creating a new group, Q Fifty One Digital, to focus upon extending their experiences to mobile and web platforms. And that’s what I’ll be heading-up as incoming President and CEO.
Our editorial approach — regular releases, long-form copy, and independent photography—will persist. Imprint’s phenomenal app will be rebranded and iterated upon to align with Rye 51’s brand. And I’m hard at work with a long-time friend Pat Dryburgh on an all-new Rye 51 experience for the web.
On the Q side, it’s a new world to explore. I cannot wait to share some of the lofty ideas we’re looking to implement in early-2017.
At this point, on a personal note, I’ll say firmly that I cannot imagine a better home for Edition Collective.
Where we typically sold out too quickly, we’ll now have access to more product — including their in-house lines — to help us satisfy increased demand. Where we were sometimes slow and inconsistent with our logistics, we’ll now be able to dabble with same-day delivery, in-store pickup, and more reliable experiences for customers in the US and abroad. And where we were unable to devote budget to marketing and growth, we’ll now be able to explore some bigger, broader ideas to share our ideas about clothing, commerce, and story-telling with audiences around the world.
Truly, it’s an exciting prospect.
Although it’s sad to wave goodbye to Imprint and Foremost, their ideas will live-on and their approach will only be enhanced from this point onward. And with these clear-cut opportunities before us, I cannot wait to get to work.
Thank you to everyone — especially our loyal customers, phenomenal employees, and our supportive investors — for helping us arrive at this point.
I can’t wait to share more as we progress.