Sequential Brands Group Inc.(Nasdaq: SQBG) is teaming up with Global Brands Group Holding Ltd. to buy struggling high-end denim purveyor Joe's Jeans(Nasdaq: JOEZ) for a mere $67 million. Not included in the deal in Joe's subsidiary Hudson, which will merge with private equity-backed fashion brand Robert Graham in a separate $13 million transaction. Joe's paid $98 million for Hudson in 2013, but was never able to fully integrate the brand.
Joe's makes denim, apparel and accessories sold in department stores and company-run boutiques. Hudson also specializes in jeans and other clothes. Joe's did not return a call for comment.