Francesca’s acquires Richer Poorer to expand reach and product categories.
TWC – Francesca’s apparel brand acquisition LLC has acquired Richer Poorer, a fashion and lifestyle company based in Los Angeles, for an undisclosed amount. As a wholly-owned subsidiary under Francesca’s apparel brand acquisition LLC, Richer Poorer will help broaden the company’s-company’s channel reach and add new product categories.
“Richer Poorer focuses on making the world a more comfortable place by selling upgraded clothing staples for men and women such as T-shirts, sweatshirts, skirts, intimates, and loungewear.” The brand has expanded to wholesale and direct-to-consumer, and Francesca plans to develop those channels with a complete relaunch in 2024.
Iva Pawling, the CEO and co-founder of Richer Poorer, will continue to lead the brand as president of Richer Poorer, Franki, and wholesale. Pawling expressed her excitement about combining Richer Poorer and their team with two successful, female-focused brands, Francesca’s and Franki by Francesca’s.
Francesca’s, which runs a network of Francesca’s and Franki by Francesca’s boutiques selling clothing, jewellery, and accessories, has been pursuing a multi-year. The company has continued to prioritize expanding its e-commerce channel and customer experience while scaling its tween brand Franki by Francesca’s and expanding physical boutique experiences through the introduction of the Fran Club loyalty platform and Forever Fran, a re-sale partnership with ThredUp.