Unified Commerce Group, a retail acquisition and advisory firm, has invested in Frank and Oak, a Montreal-based men’s and women’s apparel and accessories brand. No financial terms were disclosed. Founded in 2012, Frank and Oak has received venture capital financing from BDMI, Caisse de dépôt et placement du Québec, Campfire Capital, Goodwater Capital, Lightbank, Real Ventures, Rho Canada Ventures, Version One Ventures and other investors.
NEW YORK and MONTREAL, Oct. 2, 2020 /CNW/ – Unified Commerce Group, an exciting new retail acquisition and advisory group designed to drive innovation in the retail industry, and Frank And Oak, Canada’s award-winning sustainable fashion brand, today announced UCG’s strategic investment in Frank And Oak. Through access to its multi-disciplinary retail experts and vast industry network, UCG will provide Frank And Oak with the necessary resources to continue to nurture the brand’s strong following within Canada as well as fuel its expansion into the United States and its growth into new markets, including Asia.
UCG was founded in 2020 by Omnichannel & New Retail pioneer Dustin Jones and Wall Street veteran Greg Freihofner to build a portfolio of purpose-driven brands that connect with consumers on a global scale, and in the world’s most dynamic markets. Frank And Oak is UCG’s first strategic investment and sets the stage for future global brand investments and acquisitions. UCG’s tech-enabled platform drives scale for its brands through unified services; harmonizing strategy and execution to design, operate, and push boundaries in retail.
“We are delighted to welcome Frank And Oak to UCG,” said Dustin Jones, co-Founder and Chief Executive Officer of Unified Commerce Group. “Frank And Oak is exactly the type of brand we set out to work with and we are excited to embark on its next chapter. In collaboration with the brand’s skilled CEO Jeremy Brown and the talented team in Montreal, we look forward to furthering the brand’s success in Canada and abroad.”
Launched in 2012 by long-time friends Hicham Ratnani and Ethan Song, alongside a small group of passionate creatives, Frank And Oak designs men’s and women’s apparel and accessories from its Montreal headquarters that are made to last with the highest standards to keep up with our demanding lifestyles, while ensuring minimal impact on the planet. A certified B Corporation, Frank And Oak is beloved in Canada and the US for its core values of sustainability, transparency, and functionality that are reflected in both its products and business practices. Like many retail brands worldwide, Frank And Oak has been significantly impacted by the Coronavirus pandemic and, as a result, filed a notice of intention to make a proposal in June 2020. The brand’s restructuring and its newly announced partnership with UCG is to be implemented through an asset sale transaction for which Modasuite Inc., the current Frank And Oak operator, is seeking the approval of the Superior Court of Quebec. Provided such approval is obtained, it is anticipated that the transaction will close shortly thereafter.
Jeremy Brown, Chief Executive Officer of Frank And Oak said, “We are privileged to partner with Dustin, Greg and the multi-faceted team at UCG who truly embody our values and share our optimism and vision for Frank And Oak. The support and guidance from UCG will allow us to drive sustainable long-term growth for Frank And Oak.”
Hicham Ratnani, co-Founder and Chief Operating Officer of Frank And Oak said, “UCG provides an exciting path forward with a group that appreciates and will invest in our unique assets, vision, and team. I’m immensely proud of all that we have accomplished and overcome and the direction we are moving in as a brand.”
As UCG and Frank And Oak embark on their partnership, together they will work to further Frank And Oak’s commitment to sustainability, and introduce the brand to new markets. Frank And Oak will proudly remain headquartered in Montreal – the city that inspired its creation and continues to fuel its evolution.
About Unified Commerce Group
Unified Commerce Group (UCG) is a New Retail group seeking to acquire and scale purpose-driven brands across the largest global retail economies. Founded by Dustin Jones and Greg Freihofner, UCG was developed with a new vision for the retail industry: to unlock global opportunities for new and existing retail brands through expansion into the global retail economies. Combining an unparalleled operating network with data and technology, UCG will provide brands with multi-disciplinary expertise in each operational vertical with a world class network to ensure long-term growth and profitability while offering the opportunity to compete on a global scale. UCG is headquartered in New York City with offices in Shanghai and Hong Kong. For more information, please visit UnifiedCommerceGroup.com.
About Frank And Oak
Combining style, design and technology since it was founded in 2012, Frank And Oak offers collections of clothing and accessories for men and women that are thoughtfully designed and well suited to the lifestyles of its customers. Present on the web and in several boutiques across Canada, the brand provides a personalized online experience to hundreds of thousands of members, surpassing its role as a retailer to reinvent the customer experience. Inspired by ethical thinking and with an eye to the future, Frank And Oak upholds the values of equity, diversity and inclusion and works to promote them in its communities. Frank And Oak is certified B Corporation®, meeting the highest standards of social and environmental performance, public transparency, and legal accountability in the industry. For more information, please visit FrankAndOak.com.