Accessory importer and distributor Royal Connexions has agreed to acquire the Suntime trademark rights for sunglasses and flip-flops from PS Brands/Planet Sox.
“Our Suntime division has great potential, but we felt we weren't fully maximizing on the potential of the Suntime products,” says Elie Levy, chief executive officer, Planet Sox. “Our decision to divest from Suntime is to allow us to solely focus our resources on our character, private label and branded sock and hosiery businesses.”
Royal Connexions distributes licensed fashion and cold weather accessories, backpacks, lunch bags, umbrellas and rainwear, and plans to begin shipping new product under the Suntime brand in spring 2014.
"Royal, which just moved into an expanded showroom in 10 West 33rd Street as well as a robust office in Hong Kong, is positioned for growth,” says Nissim Holi, president and chief executive officer, Royal Connexions. “One of the key reasons for doing this venture with Planet Sox was to expand our distribution to our key retailers as a resource for a full-year cycle of product: sunglasses, flip-flops and rainwear for spring/summer and cold weather and backpacks for BTS and holiday."
Outside of selling the sunglass and flip-flop side of the business, PS Brands also granted two new licenses to Crest Mills, which will create a Suntime-branded line of beach towels and a range of throws and pillows under the Northwest Trails brand, both of which will begin shipping in spring 2014.