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Accessory Network Group LLC to Acquire the Rights to the Kooba Brand

NEW YORK, Feb. 2, 2011 /PRNewswire/ -- Accessory Network Group LLC ("ANG"), a privately held, diversified prestige handbag and accessories company, announced today that it signed a contract to acquire the rights to the Kooba brand. Kooba, founded in 1998, is a premium designer, marketer and wholesaler of branded women's luxury accessories that bridges the gap between contemporary and designer price points.

(Photo: http://photos.prnewswire.com/prnh/20110202/NY40827 )

"We are very excited about adding this iconic luxury handbag brand to our growing handbag business," said Abe Chehebar, CEO of Accessory Network Group. "Kooba is a recognized leader in fashion handbags sold in major high-end department and specialty stores throughout the world," he continued. "We look forward to working closely with Abbe Held, creative director of Kooba, in continuing to expand Kooba in both retail as well as international distribution."

Kooba is famous for creating a collection of accessories for the independent woman that appreciates unique styling, distinguishing textures, and great attention to detail. The brand was started by a mother-daughter duo that saw a void in the market for luxurious handbags with distinct edginess and contemporary aesthetic, a collection of timeless pieces that are coveted by women around the world. The brand added shoes with a similar look to their classic hobos and totes in Spring 2010. They will continue to design, manufacture and distribute their full lifestyle offering of handbags, small leather goods, shoes, and accessories to select department and specialty stores worldwide as well as Kooba.com. The company's most recent collection will debut during Market Week, January 31-February 4.

"We are thrilled to be a part of Accessory Network Group," says Abbe Held, the co-founder and creative director of Kooba. "Joining forces with ANG will give us the opportunity to expand into new markets and categories, creating the full essence of the Kooba brand."

Retail pricing for the company's products range from $175-$795.

The Kooba collection is currently available at Neiman Marcus, Saks Fifth Avenue, Nordstrom, and Bloomingdale's, and other fine retailers and specialty stores throughout the United States, Canada, Japan, and Europe. The collection is also available on select e-commerce sites and Kooba.com

About Accessory Network Group:

Founded in 1984, "ANG" is a privately held manufacturer and marketer of premier brand name and private label handbags, luggage, small leather goods, accessories and cold weather apparel. Supplying retailers with a broad line of fashion accessories for men, women, and children, ANG is recognized as the leading designer and manufacturer in the industry. ANG's Prestige Division holds Handbag & Accessories licenses for designer brands such as bebe, Bisou Bisou, Nicole Miller, and LeSportsac, the leading international brand of affordably priced luxury nylon fashion bags sold in major department stores as well as company owned retail stores. ANG wholly owns the prestigious Ghurka brand, known for its exquisite leather goods for business, home and travel. For more information, please visit the company's website at www.accessorynetwork.com

About Kooba:

Founded in 1998 by a mother-daughter team, Kooba designs, develops, and produces a distinctive line of handbags and accessories which combines unique signature styling, rich leathers and a relaxed sensibility. The collection is adored by the most trend-setting women of all ages. The Sage Group advised Kooba in this transaction. The Sage Group is a national investment bank that provides merger and acquisition advisory services to branded companies. For more information, please visit the company's website at www.kooba.com.

    CONTACT:
    McKenna McCarville
    (212) 842.3144
    mmccarville@angbrands.com

SOURCE Accessory Network Group LLC