Vancouver-based fashion retailer Aritzia has acquired American fashion brand Fred Segal and leased its original flagship location on Melrose Avenue in Los Angeles.

The deal includes Fred Segal’s intellectual property and trademarks, and supports Aritzia’s broader expansion strategy in the United States.

“Fred Segal has long been a cultural touchstone in Los Angeles — a place where creativity, community and style converge,” said Jennifer Wong, CEO of Aritzia, in a news release. “We are honoured to steward and evolve this iconic brand for a new generation with the elevated experience and Everyday Luxury that define Aritzia.”

Founded in 1961, Fred Segal helped define the “California cool” aesthetic and became a cultural and celebrity hub in Los Angeles, with its stores referenced in pop culture over decades. The company’s remaining brick-and-mortar locations and online store closed in 2024. Its founder died in 2021.

As part of the acquisition, Aritzia plans to restore the Fred Segal store ate 8200 Melrose Ave. in Los Angeles.

Over the coming years, the site will be transformed into an “entirely new, experiential destination that reflects the creative spirit that has defined both brands,” according to Aritzia’s news release.

But Neil Saunders, managing director of research firm GlobalData, told The Canadian Press that “Aritzia does not need Fred Segal,” because the Canadian company is growing enough on its own.

Meanwhile, Fred Segal’s “glory days have long since faded and the brand is now regarded more with fondness than commercial admiration,” Saunders told CP..

He believes that Aritzia wanted to own Fred Segal because acquisition allows the firm to expand in the U.S., especially through the Los Angeles flagship store.

Photo: CF Carrefour Laval in Laval, Que.