California lifestyle brand Chip & Pepper is poised to make a comeback with a new global wholesale strategy.
Lyft Brands Group LLC and California Lake Capital have inked a deal to globally launch and revitalize the premium denim brand.
Under the agreement, Lyft Brands acquired the exclusive rights to lead and manage the Chip & Pepper relaunch, in partnership with California Lake Capital and Domac LLC, which jointly acquired the Chip & Pepper brand from its cofounders in 2010. Chip & Pepper was founded in 1985 by identical twins Chip and Pepper Foster, who hail from Winnipeg, Canada. The brothers still maintain a minority stake in the brand but are no longer involved.
During the most recent management, Chip & Pepper had an exclusive denim deal with Belk, which just ended its three-year deal.
The Fosters launched their first line in 1985, selling T-shirts out of their truck in Venice Beach, Calif. Focused on skate and surf lifestyle apparel, the brand pioneered the premium denim market in the late Nineties and grew into an operation generating more than $200 million in sales. Chip & Pepper was inspired by the Foster brothers’ summers on California’s trendy beaches.
Sara Fernstrom, chief executive officer of Lyft Brands, said
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