Lucky signs outerwear licensing deal

Lucky is attempting to position itself as a bigger lifestyle brand and become known for more than their denim.

The Los Angeles-based company has signed a deal with Mystic Inc. for the design, manufacturing, and selling of their outerwear offerings. The first outerwear collection is expected to hit stores in June.

Mystic specializes in both men's and women's outerwear, and also goes by the name Herman Kay. The company has an impressive list of brands they have deals with. In addition to Lucky, they also have licensing agreements with BCBG Max Azria, BCBGeneration, Michael Kors, and Diane von Furstenburg just to name a few.

Lucky signs outerwear licensing deal with Mystic Inc.

Lucky hopes to bring new shoppers into their stores with these new offerings. The brand has been around for 25 years, but in the face of a declining denim market, it only made practical business sense for them to try and expand in other categories. The company has already been selling leather jackets, but these new outerwear offerings are expected to include shearling, wool, suede, and down. Price points for the jackets will range from 99 dollars to 499 dollars.

This fall, Lucky will also be working on expanding into other categories. They will be adding to their line of sport coats and blazers, which stores have been carrying a few pieces of these past several seasons. While specific sales figures for the coats and blazers weren't revealed, chief creative officer Kin Ying Lee said that they are growing in popularity.

Lee also told WWD that "the brand has been around for 25 years, so [it’s about] re-engaging new customers to look at Lucky in a new light."

While denim has long been a staple in the American wardrobe, it has recently lost ground to the athleisure trend, as people are opting for more casual offerings like joggers, and even more formal offerings like chino pants. Lucky's positioning itself as a Lifestyle brand could do excellent things for their sales figures and help pick up any potential lost revenue from their denim. Mystic Inc. is positioned with several other successful brands, so they are poised to be a good retail partner for Lucky.

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