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Entrepreneur Rob Gough Acquires Streetwear Brand Dope in All-Cash Deal
Friday 19 May 2017

19 May 2017 - California, US-based streetwear brand Dope has been acquired by entrepreneur and investor Rob Gough, who will lead the brand as CEO, expanding its online presence, the company said.
Terms of the transaction were not disclosed. Gough acquired Dope in an all-cash transaction.
Gough said he plans to invest in the company, pursuing global licensing and creating new product offerings, particularly in the categories of women's apparel and smoking accessories.
The company said this acquisition makes Dope the first major streetwear brand to be privately acquired in a long time.
Dope's progressive brand, which draws inspiration from both luxury lifestyle and street culture, has built a following that includes celebrities, artists, athletes, and music icons.
Its flagship boutique, located in the historic Fairfax neighborhood of Los Angeles, attracts tastemakers for the clothing and as a hub for exclusive releases and events.
Dope sells over USD 10m a year in retail sales, and with this acquisition, Gough said he plans to more than double the business within the next 12 months.
Dope is a brand that comes out of the original wave of the streetwear culture. It was launched in 2007.
Date Published: 19/05/2017
Target: Dope
Country: USA
Sector: Clothing/Textiles
Type: Corporate acquisition
Financing: Cash
Status: Closed
Buyer: Rob Gough
Terms of the deal were not disclosed