Queensland streetwear retailer Culture Kings will expand its Queensland operations and sell to millions more customers worldwide following a major investment by a.k.a. Brands, a US-based global platform of high-growth fashion brands.
Treasurer and Minister for Investment Cameron Dick said the investment by a.k.a. Brands was expected to create many new jobs in Queensland and accelerate a rapid expansion for Culture Kings, particularly in the U.S. market.
“As a Queensland company, Culture Kings has already established a global following, with artists including Drake and Marshmello and sporting identities including Christiano Ronaldo among their devotees,” the Treasurer said.
The partnership with a.k.a. Brands is expected to accelerate Culture Kings’ growth as the company scales its business to meet the increased demands of the U.S. and other global markets.
“This growth will include expanding warehouse and ordering operations in Archerfield, creating skilled jobs here in Queensland, and investing in local creative talent as Culture Kings expands into new international markets,” the Treasurer said.
“Make no mistake, this deal would not have been possible without the insight and experience of our diligent team at Trade and Investment Queensland.
“I understand Culture Kings is likely to employ dozens more Queenslanders over the next 12 months as a result of this deal.”
The Treasurer said this transaction demonstrates the quality and world-wide appeal of Queensland businesses, with significant international investment occurring in the state even during the global pandemic.
“We’ve already seen the benefits for two other Queensland brands that are part of the a.k.a. portfolio, Burleigh Heads label Princess Polly and Brisbane-based Petal & Pup,” he said.
“Both have acquired a new customer base and a much higher profile in the U.S.”
Founded in Brisbane in 2008 by Tah-nee and Simon Beard, Culture Kings is known for its curated collection of over 100 leading global streetwear brands, coveted exclusive pieces, world-famous followers, and immersive in-store experiences featuring DJs and interactive games.
Culture Kings will benefit from a.k.a.’s unique online platform and data-driven approach to digital innovation, which is designed to help emerging brands grow by accelerating direct-to-consumer sales and achieving economies of scale.
Culture Kings’ founders will continue as COO and CEO under the deal, retaining a large ownership stake in Culture Kings. Also holding a stake in a.k.a. is Australian-born NBA superstar Ben Simmons, one of Culture Kings’ high-profile customers, who invested in a.k.a. in conjunction with the transaction.