Dallas – Today, Q Fifty One, owner and operator of nationwide retail concepts Q Clothier and Rye 51, announced it has entered into an agreement to acquire Edition Collective, the company behind acclaimed e-commerce properties, Imprint (formerly Need) and Foremost, in a cash plus equity deal.
Matt Alexander, founder and CEO of Edition Collective, will join Q Fifty One as President and CEO of a newly-created digital group, Q Fifty One Digital, tasked with developing a new strategy for Rye 51 and Q Clothier on mobile and web platforms. Imprint and Foremost will be dissolved as standalone brands, but their signature design sensibilities, editorial approach, and focus upon curation will persist. The company’s customers and assets, including Imprint’s exceptional iOS app, will also become a part of Q Fifty One Digital.
“In 2003, as a second-generation haberdasher, I set about extending our family legacy by opening Q Clothier, a purveyor of custom clothing for the modern gentleman. In the years since, we broadened this effort by opening Rye 51 to offer a curated selection of casual menswear. In doing so, our brands have become synonymous with quality and integrity in cities across the country,” said Raja Ratan, founder and CEO of Q Fifty One. “Our business has grown to become an eight figure, profitable enterprise without the web. Now, with our acquisition, we’re ready to bolster that growth and extend our experiences into the digital world.”
“In Q Fifty One, we’ve found our ideal home. Given their focus upon refinement and quality in physical retail, we’re equipped to translate those experiences to the world of e-commerce,” added Matt Alexander, founder and CEO of Edition Collective and incoming President of Q Fifty One Digital. “When we sat down to discuss the prospect this summer, I could hardly believe what Raja and his team had accomplished in brick and mortar alone. Imagine what we could do together? From their amazing in-house product-line to a staff of dozens of experts, there’s an unprecedented opportunity in front of us.”
Raja Ratan and his growing team will continue expanding Q Fifty One’s footprint across the U.S., whilst Matt Alexander and his team will look to expand the reach of Rye 51 and Q Clothier to customers around the world. Rye 51 is slated for a full overhaul to launch imminently under Matt’s guidance. A revamped version of Q Clothier will arrive in 2017.
“Leveraging the Edition Collective approach to e-commerce, photography, and story-telling, we feel confident that our exceptional brick and mortar experiences will be done justice on the web,” remarked Raja Ratan. “The opportunities are endless.”
The terms of the acquisition were undisclosed by either party.
Edition Collective’s portfolio was comprised of Imprint (formerly known as NEED), a curated retailer and lifestyle publication for the modern man, and Foremost, a small-batch, American-made clothing brand for men and women.
Venista Ventures was part of a group of investors funding NEED together with Matt Alexander.
Edition Collective was a company devoted to the creation of unique, sustainable, and disruptive concepts in e-commerce and media. It was founded by Matt Alexander and Venista Ventures among others.