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May 11, 2021
Photo courtesy of South Moon Under
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We are catching up on the news that East Coast industry customer South Moon Under has been acquired by an investment company.
The retailer started more than 50 years ago as a surf shop in Ocean City, Maryland. It now has 25 stores along the East Coast from Connecticut to Florida and a growing online business.
The new owner is Ames Watson, a private holding company based in Columbia, Maryland. Ames Watson acquired large retail chain Lids from Genesco two years ago.
The investment company indicated that there is big growth ahead for South Moon Under.
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Dive Brief:
Fashion boutique South Moon Under is being acquired by Ames Watson, a private investment firm that acquired hat specialist Lids from Genesco in 2019.
Terms of the deal were not disclosed. Annapolis, Maryland-based SMU currently has 30 stores spanning from Connecticut to Florida.
In a press release, Ames Watson indicated it plans to expand the retailer. We see a tremendous opportunity to grow a brand with high recognition into a national store with a local approach, Lawrence Berger, co-founder and partner with Ames Watson, said in the release.
Dive Insight:
Ames Watson launched in 2018 and in short order has made four retail acquisitions in the three years since.
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Affiliate Of Investment Holding Company Ames Watson Acquires Iconic Retail Chain, South Moon Under
- Acquisition of South Moon Under Comes Two Years After Ames Watson Took Control of and Revamped Leading Sports Retailer Lids -
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Ames Watsonis acquiring the iconic Annapolis-based retail chain,
South Moon Under ( SMU ). Ames Watson successfully turned around and has grown hat and licensed sports retailer Lids after acquiring it two years ago and will seek to do the same with South Moon Under.
South Moon Under logo
Founded more than 50 years ago as a surf shop in Ocean City, Maryland, South Moon Under has become a differentiated leader offering an omni-channel shopping experience for casual women s and men s fashions, swimwear, accessories, and housewares. Through curated offerings, South Moon Under has developed a dedicated client base attracted to the latest offerings from name brand and indie designers, as well as its own in-house private lab
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