aka Brands Completes Acquisition of Leading Direct-to-Consumer Menswear Brand, mnml

aka Brands Holding Corp. (NYSE: AKA), a brand accelerator of next-generation direct-to-consumer (DTC) fashion brands (a.k.a. Brands or the Company), today announced that it has acquired all ownership interests of mnml, a digitally native American DTC men's brand for a total of $48.6 million in combined cash and equity. The acquisition closed on October 14, 2021 and is expected to be immediately accretive to net income.

Founded in Los Angeles in 2016, mnml is a fast-growing men's streetwear brand that designs premium, fashion-forward clothing at affordable prices. As a pioneer in the DTC streetwear segment, mnml has created powerful brand recognition and is an established destination for modern wardrobe essentials, current trends and highly sought-after styles. The brand has developed a data-driven merchandising model to offer customers quality, on-trend fashion, faster and at an affordable price. mnml's authentic social media marketing strategy, highlighted by its over 1 million followers across social platforms, promotes effective customer acquisition and strong brand loyalty. In fiscal 2020, mnml's net revenue was approximately $20 million, of which approximately 20% came from outside the United States. Year-to-date, mnml has delivered above-market net revenue growth while also generating a double-digit EBITDA margin. mnml will be sold through Culture Kings in the United States and Australia in addition to its own website, mnml.la.

“As a high-growth, content-rich and forward-thinking brand, mnml fits perfectly into the aka portfolio, and I am thrilled to welcome it to our all-star group of DTC fashion brands,” said Jill Ramsey, executive director of aka. Marks. The brand has a proven track record, and it’s another step towards our vision of becoming the global leader in direct-to-consumer fashion for the next generation. Merchandising expertise and highly loyal customer base provide opportunities for synergy with Culture Kings that we. I think this will unlock exciting growth for both brands. The acquisition strengthens our presence in the dynamic streetwear market, and we believe that mnml has enormous opportunities for significant growth in the United States and internationally. I look forward to working with Matthew Fields and the mnml team. as we leverage our next-generation retail platform to take this awesome brand to the next level.

“aka Brands is a leading acquirer and accelerator of DTC brands and the ideal partner to scale mnml,” said Matthew Fields, founder and CEO of mnml. “We are confident that our customers and our brand will benefit from aka Brands’ highly skilled management team and their extensive experience in building successful e-commerce businesses while maintaining brand authenticity.” We are excited to join the other great brands in the aka portfolio and work closely together. with Culture Kings to create value and opportunities for both of our businesses.

Additional details of the transaction will be discussed during the Company's third quarter 2021 earnings conference call, the date of which will be announced in the coming weeks.

About alias brands
Founded in 2018, aka Brands is an accelerator of direct-to-consumer fashion brands for the next generation. Each brand in the aka portfolio is customer-led, curates exclusive, quality products, creates authentic and inspiring social content, and targets a distinct audience of Gen Z and Millennials. aka Brands leverages its next-generation retail platform to help every brand accelerate growth, expand into new markets and improve profitability. Current brands in the aka Brands portfolio include Princess Polly, Culture Kings, mnml, Petal & Pup and Rebdolls.

Forward-looking statements
Certain statements made in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words estimate, projected, expect, anticipates, foresees, plans. , intends, believes, seeks, may, will, should, future, propose and variations of these words or similar expressions (or the negative versions of these words or expressions) are intended to identify forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and could cause actual results or results to differ materially from those discussed in the forward-looking statements.

Among other things, there can be no assurance that alias Brands will realize the expected benefits of the acquisition of mnml or that the acquisition will achieve the results discussed in this release. For a further discussion of these and other risks and uncertainties that could cause actual results to differ from the Company's expectations, please see Brands' final prospectus relating to its initial public offering, dated dated September 21, 2021, filed with the Securities and Exchange Commission and available at www.sec.gov. aka Brands undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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