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Vancouver-based retailer Aritzia has acquired the iconic Los Angeles boutique, Fred Segal, the company announced Thursday.
The deal includes the intellectual property of Fred Segal and the company will lease its 29,000-square-foot flagship location at 8100 Melrose Avenue. The license for the Fred Segal name was most recently owned by Global Icons, which struggled to boost its business after the pandemic. Jeff Lotman, CEO of Global Icons, shuttered its two remaining stores in 2024 and returned of the brand license to the Segal family, the seller in Aritzia’s transaction.
Aritzia plans to revitalise the Melrose Avenue store and its famous ivy-covered façade following recent storm damage. It plans to transform Fred Segal into “an entirely new, experiential destination,” the company said in a statement. The result will be a lifestyle destination merging Artizia’s know-how in the accessible luxury space and Fred Segal’s cultural cachet, with a new curated assortment and “immersive experiences.”
“Fred Segal has long been a cultural touchstone in Los Angeles — a place where creativity, community and style converge,” Aritzia CEO Jennifer Wong said in the statement.
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As the legacy department store model faces an accelerating decline — punctuated by the recent bankruptcy filing of Saks Global — Aritzia’s entry into the multibrand space reflects an opportunity for smaller, often locally-operated players to capture market share and still-booming consumer appetite for discovery. Newer online platforms like Revolve Group’s Fwrd and MyTheresa have been able to drive recent growth by leveraging physical experiences, such as events and in-person styling services.
Learn more:
The Secrets to Aritzia’s Explosive Growth, According to Its Superfans
The retailer’s idiosyncratic approach, from its price point to its fitting rooms, has allowed the chain to rapidly scale in recent years.
Editor’s Note: This article was amended on Feb. 19, 2025 to reflect that Aritzia has not purchased the real estate of the Fred Segal flagship and to clarify its size.
