When BCBG and Guggenheim acquired the company earlier this year, it was called G+G Retail. The stores, under the names Rave, Rave Girl and G+G, are mainly mall based. BCBG executives say they plan to rebrand all of the units under the Max Rave name by the end of the year.
For its original stake in Max Rave, Vernon, CA-based BCBG and Guggenheim beat out teen-apparel retailer Wet Seal, which had offered $15.2 million for the assets. BCBG won the bid by offering to pay that price as well as $22 million to creditors owed by the retailer. According to court documents, BCBG offered to also provide more than $20 million of fresh inventory, and rehire more than half of the retailer's terminated employees.
Created in 1989, BCBG Max Azria was named for the Parisian phrase "bon chic, bon genre," meaning "good style, good attitude." The BCBG Max Azria Group has 15 brands including BCBG Max Azria, Max Azria Collection, Max Azria Atelier, BCBGirls, BCBG//Attitude, To The Max, Herve Leger Paris, Herve Leger Couture, Parallel, Max and Cleo, Noun, Maxime, Dorothee Bis, Don Algodon and Alain Manoukian, and a retail and wholesale network that includes more than 5,200 points of sale throughout the world.
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