Men’s brand Former Merchandise Inc. is ready to take its next steps alone.
The brand—which was started by Dane Reynolds, Craig Anderson and Austyn Gillette—are no longer working with management and consulting firm Kasa Maison, ending a five-year partnership between the two. The news was announced last week by Kasa Maison CEO Eddie Miyoshi.
“Dane and the boys have moved the brand back to Ventura to run the business on their own and closer to home,” Miyoshi said in his announcement. “We wish them all the best on this next chapter of their story and will remain shareholders in an amazing and prosperous brand. Here’s to an amazing five years! Thanks Dane, Craig [and] Austyn for the ride!”
Ventura is where Reynolds runs the Chapter 11 Surf Shop, which has also functioned as a creative headquarters for Former. Last November, it moved to Palm Street in Ventura.
The news marks a big change for Former, which was started in 2016. It took off quickly with the help of Kasa Maison lending operational and financial expertise. Meanwhile, Former’s founders were able to focus on the creative aspects of its “rider owned and operated” brand.
Their emergence was good timing with the parting of the sea within the action sports industry.
With the splintering of the former Boardriders brands post-Authentic Brands Group acquisition, surf and skate shops were hungry for a new proposition. Brands such as Former, founded by pro athletes and backed by a company helmed by industry veterans, seemed like a no-brainer for retailers.
While under Kasa Maison, Former rapidly expanded into surf and skate shops, in addition to striking licensing deals in countries such as Australia, Europe and Japan. Its assortment of knitwear, slacks and denim have propelled it beyond a T-shirt and button-up brand (although its assortment does include those basics). That diversity’s allowed it to also push into more fashionable retailers, such as Revolve Man.
Where it goes next is anyone’s guess, but Kasa Maison helped it push off with an operational foundation that can take Former many places.
What’s Next for Kasa Maison
As for Kasa Maison, it’s on the hunt for more “it” brands to scale.
It helps that Miyoshi is the former CEO of Huf Worldwide and before that was a long-time executive at Volcom. He understands the industry but has respect for what branding and creative mean to the health of a business.
“As for Pat and I, we look forward to a new chapter for Kasa and building legacy with new brand opportunities,” Miyoshi said in his announcement.
Pat Lloyd serves as Kasa’s sales director and is himself a Volcom veteran, who is credited with growing Volcom to some 70 countries. Other partners in the business include Kasa Maison Merchandise Director and Rhythm co-founder Jamahl Grey and Media Director Eden Hannon, who has served as an executive at Rip Curl, Quiksilver and Neuw Denim.
Kasa Maison’s investment thesis is small- to medium-sized businesses with the potential to scale. The firm offers design, manufacturing, sales, marketing, legal and international services.
Aside from Former, it’s also worked with Rivvia Projects founder and pro surfer Julian Wilson on his golf and surf lifestyle brand.
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