Bench sold to European licensee
British streetwear brand Bench has been sold by US-based investment firm Gordon Brothers to the brand’s primary European licensee, Wraith Holdings International Ltd, for all territories outside of the Americas.
Bench was founded in Manchester in 1989 and has relaunched for SS20 – returning to its streetwear roots with Apparel Brands, an affiliate of Wraith Holdings, as one of its key licensees.
Apparel Brands co-owner, Peter Wood, says: “Apparel Brands is the licensee for Bench apparel in Europe, and will continue as a licensee. Wraith Holdings International Ltd will now look to expand the Bench licensing programme internationally.
“Apparel Brands is already selling product in the UK and Europe. I own 50% of Apparel Brands and have an investor who owns the other 50%.”
It is believed that Gordon Brothers, which acquired Bench in July 2018 after it went in to administration, felt that, as the business developed, Apparel Brands was the natural owner of the brand and better positioned to build on its new-found growth.