Bluestar Alliance acquires luxury streetwear label Palm Angels

Global brand management firm Bluestar Alliance announces its acquisition of luxury streetwear label Palm Angels. Founder and creative director Francesco Ragazzi will exit the brand. 

Bluestar Alliance’s acquisition of Palm Angels follows its purchase of luxury streetwear label Off-White from LVMH Moët Hennessy Louis Vuitton at the end of September. 

Palm Angels started in 2011 as a photographic documentation of LA’s skater culture by Francesco Ragazzi and evolved into a fashion brand in 2015, quickly becoming popular for its modern take on cultural signifiers and rebellious spirit. Known for its distinctive design aesthetic that deftly combines American skate culture with Italian craftsmanship, the brand has carved a niche in global fashion.

“Palm Angels is a brand that speaks directly to the cultural trailblazers—the underground tastemakers and fashion leaders who shape the future of style”, says Ralph Gindi, COO of Bluestar Alliance. “In every community, there are those that set the trends, the visionaries who guide fashion’s evolution, and those individuals are wearing Palm Angels. As we enter this exciting new chapter, we’re proud to bring together creative forces from around the globe to continue shaping the future of fashion.”

“We are thrilled to welcome Palm Angels into the Bluestar Alliance brand portfolio,” says Joey Gabbay, CEO of Bluestar Alliance. “The brand’s unique ability to bridge the worlds of streetwear and luxury has set it apart in the fashion industry. We are committed to supporting Palm Angels as it continues to evolve, innovate, and expand its global presence. This acquisition aligns perfectly with Bluestar’s strategy of growing iconic brands with strong cultural relevance and consumer appeal.”

Per BoF: ‘Palm Angels was part of the stable of brands managed by New Guards Group, the Farfetch-owned brand platform that also includes labels such as Marcelo Burlon County of Milan, Heron Preston, Ambush and holds the license for Off-White. Its sale arrives during a moment of turbulence for the group. In November, New Guards filed for bankruptcy protection in Italy in an effort to restructure its business. Farfetch, meanwhile, was rescued from near collapse by South Korean e-commerce giant Coupang in December 2023. It had acquired New Guards Group in 2019.’

Meanwhile, the founder and Creative Director of Palm Angels is exiting the brand. ”Palm Angels has been shaping the intersection of luxury and street culture. As it enters a new chapter, I step away with confidence and wish them the greatest success ahead,” said Francesco Ragazzi.

About Palm Angels

Palm Angels is a luxury streetwear brand that deftly combines high fashion with skate culture, founded by Francesco Ragazzi in 2011. Trained as an art director in fashion communication, Ragazzi began this venture as a photographic documentation of LA’s skater scene. His aim was to encapsulate the spirit and lifestyle of a subculture that was in sync with the rebellious freedom associated with skateboarding. It was this authentic reflection of culture that characterised the fashion brand from its inception.

The brand took shape in the form of a visually compelling book by Rizzoli in 2014, showcasing photographs which captured the essence of skater culture. By 2015, the concept grew into a full-fledged clothing line that embraced American subcultures with the rigor of Italian craftsmanship. The aesthetics is rooted in a synthesis of sartorial codes, bold graphics and an experimental approach to textures, which resonate with a demographic that values individuality and statement pieces. This transition from photography to fashion is a testament to Ragazzi’s vision—an exploration of cultural signifiers through the medium of fashion.

About Bluestar Alliance, LLC

Founded by Joseph Gabbay and Ralph Gindi in 2006, Bluestar Alliance is a global brand management company that owns, manages, and markets a portfolio of premium fashion, lifestyle, and consumer brands. The portfolio spans a range of contemporary and luxury brands, with over $9 billion in global retail sales. Bluestar Alliance’s network of domestic and international partners offers the opportunity to take niche and established brands and grow them into worldwide lifestyle brands. The company manages a portfolio of over 400 licensees and a growing branded retail platform of over 500 stores throughout North America, Europe, Australia, South America, Asia, the United Arab Emirates, the Middle East, and India.