New retail group Unified Commerce Group (UCG) has made a strategic investment in Canada’s sustainable fashion brand Frank And Oak.
Following this investment, UCG will offer necessary resources to Frank And Oak to continue the company’s operation in Canada and accelerate expansion into the US.
It will also help the retailer to expand into new markets such as Asia.
The partnership is carried out through an asset sale transaction and subject to approval from the Superior Court of Quebec.
Modasuite is serving as the current Frank And Oak operator.
Unified Commerce Group co-founder and chief executive officer Dustin Jones said: “We are delighted to welcome Frank And Oak to UCG.
“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, Frank And Oak specialises in designing men’s and women’s apparel and accessories from its Montreal headquarters.
In June, the certified B Corporation, Frank And Oak filed a notice of intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act.
Frank And Oak co-founder and chief operating officer Hicham Ratnani 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.”