Oakley Sells REVO Brand for $20MMonday, August 12, 2013
Foothill Ranch-based Oakley Inc. sold its polarized sunglasses brand REVO to Sequential Brands Group Inc. for about $20 million.
New York-based Sequential owns a portfolio of brands that include William Rast, People's Liberation, Heelys and DVS.
Sequential said in a release that it inked a long-term licensing deal with New York-based B. Robinson Optical Inc. to have the eyewear licensing company make and distribute REVO products.
REVO will continue to be sold in eyewear retailer Sunglass Hut, Sequential said.